Gwangyang to Issue 80 Billion Won in Gwangyang Sarang Gift Certificates

Additional 30 Billion KRW Issued... "Local Economy Expected to Rebound"
15% Cashback on Purchases Until February 12

Gwangyang City in Jeollanam-do announced on the 17th that it has decided to increase the issuance of the 'Gwangyang Sarang Gift Certificate' by an additional 30 billion KRW, raising the total from the originally planned 50 billion KRW to 80 billion KRW.

As economic sentiment has weakened and downward pressure on the economy has increased due to growing internal and external uncertainties, leading to concerns about a consumption slowdown, Gwangyang City decided to issue an additional 30 billion KRW to revive the sluggish local economy and designated January to March of this year as a consumption promotion period.

Exterior view of Gwangyang City Hall.

The additional issuance of 30 billion KRW worth of Gwangyang Sarang Gift Certificates is welcome news for local small business owners. Last year, the 70 billion KRW worth of Gwangyang Sarang Gift Certificates issued were quickly sold out due to high popularity among citizens, and the certificates helped boost local consumption, leading to increased sales for small businesses. As a result, there has been a strong demand for expanding the issuance of local gift certificates again this year to revitalize the economy.

To coincide with the Lunar New Year holiday, the city is currently running a consumption promotion event, offering 15% cashback on amounts spent for one month until February 12.

Jung Haejong, head of the Investment and Economy Division, said, "Although the economic situation is not favorable, the Gwangyang Sarang Gift Certificate is bringing warmth to both citizens and small business owners," and added, "We will continue to do our utmost to develop policies and provide support for both citizens and small business owners."

This content was produced with the assistance of AI translation services.