Yeongdeungpo District to Issue Additional 5.1 Billion Won in 'Ttaenggyeoyo Gift Certificates' with Up to 30% Discount in August and September

"Receive 230,000 Won in Benefits for a 170,000 Won Purchase"
Supporting Local Businesses and Residents

Yeongdeungpo District in Seoul (District Mayor Choi Hokwon) announced on August 6 that it will issue an additional 5.1 billion won worth of 'Yeongdeungpo Ttaenggyeoyo Gift Certificates' by next month. This initiative aims to ease the burden of food prices for residents during this period of high inflation and to revitalize the local economy.

Provided by Yeongdeungpo District.

The additional issuance will be carried out in two phases: 2 billion won will be released at 10 a.m. on August 8, and another 3.1 billion won will be issued sequentially ahead of the Chuseok holiday in September. Having already issued 1.85 billion won worth of certificates by July this year, the district will reach a cumulative total of 6.95 billion won with this measure.

The popularity of the 'Yeongdeungpo Ttaenggyeoyo Gift Certificate' has also risen noticeably. The number of users registered on the 'Ttaenggyeoyo' app increased by 38%, from 65,649 in January of this year to 90,821 in June. During the same period, the number of orders nearly tripled, from 6,671 to 17,445, and the total order amount surged from 137.84 million won to 425.01 million won. The district expanded the supply of gift certificates to meet this growing demand.

This gift certificate is a 'mutual benefit-type local gift certificate' that provides advantages to both consumers and small business owners. When purchased, buyers receive an immediate 15% discount. Additionally, when paying through the 'Ttaenggyeoyo' app, users receive 10% of the payment amount as a payback (cashback) and 5% as points, resulting in a total discount effect of 30%. For example, if a customer purchases a 200,000 won certificate for 170,000 won and uses the entire amount, they will receive 20,000 won as payback and 10,000 won as points, effectively gaining a consumption benefit of 230,000 won for a 170,000 won expenditure.

'Ttaenggyeoyo' is a public delivery app with no entry fees, advertising costs, or monthly usage fees, and applies a low commission rate of around 2%. This helps reduce the fee burden for small business owners and increases sales by boosting orders.

The gift certificates can be purchased through the 'Seoul Pay+' app and used at 2,179 affiliated stores within Yeongdeungpo District. The monthly purchase limit per person is 200,000 won, the maximum holding limit is 1 million won, and the validity period is one year from the date of purchase.

Choi Hokwon, Mayor of Yeongdeungpo District, stated, "We decided to issue additional certificates to provide practical assistance to residents and small business owners struggling with high prices and economic downturn," and added, "We will continue to actively implement support measures to help restore the local economy."