46% of Consumption Coupons Used Within Two Weeks of Distribution

2.6518 Trillion Won Used Out of 5.7679 Trillion Won Distributed
41.4% Spent at General Restaurants
Sales at Affiliated Stores Increased After Coupon Distribution

It has been revealed that 46% of the total amount of the Min Saeng Recovery Consumption Coupons was used within just two weeks of distribution.

According to the Ministry of the Interior and Safety, as of midnight on August 3, 2.6518 trillion won out of the 5.7679 trillion won distributed via credit and debit cards had been spent. This analysis is based on the usage and sales amounts by industry, using data collected from nine card companies for the period from July 21 to August 3.

Yonhap News

By sector, 1.0989 trillion won was spent at general restaurants, accounting for 41.4% of the total amount used. This was followed by marts and groceries at 407.7 billion won (15.4%), convenience stores at 257.9 billion won (9.7%), hospitals and pharmacies at 214.8 billion won (8.1%), clothing and miscellaneous goods at 106 billion won (4.0%), private academies at 100.6 billion won (3.8%), and leisure and recreation at 76 billion won (2.9%).

In the fourth week of July, when the consumption coupons began to be distributed, total sales at affiliated stores increased by 19.5% compared to the previous week. Compared to the same period last year, sales increased by 5.5%. By sector, the rate of sales increase was highest for private academies at 33.3%, followed by clothing and miscellaneous goods at 19.7%, and convenience stores at 13.1%.

In the fifth week of July, sales increased by 8.4% compared to the third week of July, before the coupons were distributed, and by 6.5% compared to the same period last year. By sector, sales increased in the following order: clothing and miscellaneous goods by 22.9%, private academies by 22.8%, leisure and recreation by 19.9%, and restaurants by 16.8%.

Yoon Ho-joong, Minister of the Interior and Safety, stated, "The Min Saeng Recovery Consumption Coupons are clearly resulting in increased sales for small business owners and improved consumer sentiment among the public." He added, "We will continue to ensure that the coupons serve as a catalyst for economic recovery and will implement additional measures to encourage both swift and further consumption, so that the livelihood economy continues to improve."

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