Yangcheon-gu to Issue 4 Billion Won Worth of Yangcheon Love Gift Certificates on the 6th

Yangcheon-gu, Seoul (Mayor Lee Gi-jae) will issue an additional 4 billion KRW worth of ‘Yangcheon Love Gift Certificates’ starting at 10 a.m. on the 6th.

Yangcheon-gu will issue Yangcheon Love Gift Certificates worth 4 billion won on the 6th. Photo by Lee Gi-jae, the district mayor, communicating with merchants at a traditional market before last Lunar New Year. Provided by Yangcheon-gu.

The district issued 6 billion KRW worth of Yangcheon Love Gift Certificates ahead of the Lunar New Year in January and has decided to issue 4 billion KRW earlier than planned this time. The plan is to issue a total of 10 billion KRW in the first quarter to revitalize the local economy, which has been hit by the prolonged economic downturn.

The Yangcheon Love Gift Certificates can be purchased at a 5% discount through the 'Seoul Pay Plus' (SeoulPay+) app. Individuals can purchase up to 500,000 KRW per month, with a maximum holding limit of 1.5 million KRW. The certificates can be used within five years from the purchase date, and if more than 60% of the certificate amount is used, the remaining balance can be refunded.

The gift certificates can be used at 9,410 affiliated stores within the region, including pharmacies, restaurants, and markets. However, usage is restricted in certain sectors such as large-scale stores, entertainment, and gambling industries.

Meanwhile, in addition to issuing the Yangcheon Love Gift Certificates, the district is implementing various support measures for small business owners struggling due to the economic downturn and sluggish domestic demand. These include providing loans from a 4 billion KRW annual Small and Medium Enterprise Development Fund at an ultra-low interest rate of 0.8%, and supporting signboard replacement costs for small and micro businesses.

Mayor Lee Gi-jae stated, “We hope that the early expansion of the Yangcheon Love Gift Certificates will not only help households but also boost sales for small business owners facing difficulties. We will continue to do our best to promote policies that revitalize the local economy and support the regional commercial sector.”

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