Gwangju City Extends 10% Special Discount on Sangsaeng Card Until February

100 Billion KRW Allocated from City Budget
Local Economy Expected to Revitalize

Gwangju City has extended the operation of the "Gwangju Sangsaeng Card 10% Special Discount," which was originally scheduled to run for the month of January, through February. Photo by Gwangju City

Gwangju City will extend the "Gwangju Sangsaeng Card 10% Special Discount" until February. This measure is expected to revitalize the local economy, which has been sluggish due to high interest rates, high inflation, and the added impact of the current impeachment situation. To this end, the city will allocate 10 billion KRW from its budget.

According to Gwangju City on the 6th, despite difficult financial conditions last month, the city implemented the 10% special discount on the Gwangju Sangsaeng Card in cooperation with the five autonomous districts to boost the struggling local economy.

This month, the city will fund and implement the program independently. With the special discount continuing for two months, local consumption is expected to increase, which in turn is projected to help boost sales for self-employed and small business owners and revitalize the local economy.

Through this special discount, users can receive a 10% discount on prepaid and debit cards combined, up to 500,000 KRW per person, throughout February.

For prepaid cards, purchases or recharges can be made immediately at a 10% discounted rate. For debit cards, users will receive a 10% discount (post-cashback) next month, but only for the amount actually spent in February from the recharged balance. Even if the balance was recharged before February but used in February, the discount still applies.

Additionally, to reduce the burden on small business owners, the city will continue its existing program of fully subsidizing Gwangju Sangsaeng Card payment processing fees (0.25%~0.85%). This applies to merchants with annual sales of 500 million KRW or less.

Ju Jaehee, Director of Economic and Startup Affairs, stated, "Despite the suspension of national funding for local gift certificates, we have decided to fully fund the 10% special discount for the Gwangju Sangsaeng Card in February using the city budget. We hope this will help increase sales for small business owners struggling with economic downturn and reduced consumption, and revive the local economy."

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