Yongsan-gu to Issue Additional 10 Billion Won of Yongsan Love Gift Certificates on the 31st
Promoting Local Consumption
and Supporting Small Business Owners
Yongsan-gu, Seoul (District Mayor Park Hee-young) will issue an additional 10 billion KRW worth of ‘Yongsan Love Gift Certificates’ at 10 a.m. on the 31st to revitalize the local economy. This measure aims to promote consumption within the region and support increased sales for small business owners.
Following the issuance of 10 billion KRW worth of Yongsan Love Gift Certificates in January, the district decided to issue additional certificates this month ahead of schedule. This is to provide residents with more benefits and strengthen the virtuous cycle of consumption within the region.
The gift certificates can be purchased at a 5% discount up to a maximum of 500,000 KRW per person per month, and holders can possess up to 1,500,000 KRW worth. They can be used like cash at approximately 7,500 Yongsan Love Gift Certificate affiliated stores within Yongsan-gu, and the validity period is five years.
Purchases can be made through the ‘Seoul Pay Plus (SeoulPAY＋) app. If unused after purchase, full cancellation is possible, and if purchased by cash (bank transfer), refunds of the remaining balance are available after using at least 60%. Gift certificates purchased with credit cards cannot be refunded or gifted.
District Mayor Park Hee-young said, “We expect that the additional issuance of gift certificates will promote local consumption and greatly help stabilize the management of small business owners,” adding, “We will continue to implement various policies to revitalize the local economy.”
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Meanwhile, to ease the management burden on small and medium-sized enterprises and small business owners, the district is promoting various support projects including the issuance of Yongsan Love Gift Certificates, revitalization and facility improvement of traditional markets, fostering of alleyway commercial communities, and early support of 2 billion KRW for the SME development fund.
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