Jeonbuk Province Receives 12.7% of Applications for Consumption Coupons on First Day, Distributes 45.3 Billion Won

183,043 Applications Received for Credit, Debit, and Prepaid Cards, and Local Gift Certificates

On July 21, the first day of applications for the first round of Livelihood Recovery Consumption Coupons in Jeonbuk Special Self-Governing Province, a total of 183,043 applications were received, amounting to 45.3 billion won.

According to the provincial government on July 22, the number of applications received the previous day accounted for 12.7% of the total distribution budget of 357.7 billion won, reflecting strong interest from residents.

Jeonbuk Provincial Office building exterior. Provided by Jeonbuk Province

By payment method, credit and debit card applications were the most common, with 95,418 cases (22.12 billion won), followed by prepaid cards with 64,549 cases (17.58 billion won), and local gift certificates with 23,076 cases (5.55 billion won).

The province is accepting first-round applications for the Livelihood Recovery Consumption Coupons both online and offline for about eight weeks, from 9 a.m. on July 21 until 6 p.m. on September 12. During the first week of applications, from July 21 to 25, applications are accepted on designated days based on the last digit of the applicant's birth year. On Tuesday, July 22, those whose birth years end with 2 or 7 are eligible to apply.

Online applications can be made through the Local Gift Certificate application (app), credit and debit card company websites, apps, call centers, and ARS. Offline applications can be submitted at the resident centers of the applicant's local town, township, or neighborhood, or at partner bank branches of credit and debit card companies.

Kim Intae, Director of Corporate Attraction and Support, stated, "We expect these consumption coupons to provide residents with real purchasing power and serve as a catalyst for reviving local commercial districts and the regional economy. We will implement livelihood policies that residents can truly feel through prompt distribution and seamless administrative processing."

Meanwhile, the province cautioned that if the Livelihood Recovery Consumption Coupons are used for purposes other than their intended support?such as being converted into cash?the subsidies will be reclaimed, and future eligibility for government subsidies may be restricted.

If the coupons are converted into cash through transactions between individuals, recipients may be required to return all or part of the subsidy in accordance with the Subsidy Management Act. In addition, a penalty of up to five times the subsidy amount may be imposed, and future subsidies may be restricted.

Vendors who process payments with the coupons using credit cards without actual sales, or who receive more than the actual sales amount, are also subject to penalties. In such cases, under the Specialized Credit Finance Business Act, offenders may face up to three years in prison or a fine of up to 20 million won.

If merchants receive or exchange local gift certificates without an actual transaction or for an amount exceeding the actual transaction value, they may have their merchant registration canceled and be fined up to 20 million won under the Local Gift Certificate Act.

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