Gwangju City to Provide 10% Incentive on January Gwangju Sarang Card for Revitalizing People's Economy
Gwangju City, Gyeonggi Province (Mayor Bang Se-hwan) announced on the 27th that it will issue 180 billion KRW worth of Gwangju Sarang Card next year to revitalize the local economy and increase the Gwangju Sarang Card incentive from the existing 7% to 10% in January.
This measure reflects the increase in citizen spending during the Lunar New Year holiday and aims to revitalize the stagnant local economy by boosting sales for small business owners through consumption promotion. The monthly recharge limit per citizen is 500,000 KRW, and they can receive incentive benefits up to 50,000 KRW.
In particular, the city allocated 2 billion KRW for the January incentive budget, which is 600 million KRW more than the previous year. By expanding the issuance of local currency, the city plans to revive the local economy and invigorate traditional markets and neighborhood commercial districts.
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Mayor Bang Se-hwan said, “We expect this to create a virtuous cycle in the local economy by increasing sales for small business owners struggling with high interest rates and inflation, as well as benefiting 40,000 citizens. We ask for active cooperation in revitalizing the local economy by using the Gwangju Sarang Card extensively at traditional markets and neighborhood commercial areas.”
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