Daegu Lo-Pay Discount Rate Raised from 7% to 13%... Individual Purchase Limit Set at 500,000 Won

Starting September 1, the city of Daegu will significantly increase the discount rate for the Daegu local gift certificate, "Daegu Lo-Pay," from the current 7% to 13%.

In particular, this second issuance of Daegu Lo-Pay is being launched with a higher discount rate to further boost the local economy, which has already been stimulated by the "Livelihood Recovery Consumption Coupon," and to continue encouraging local spending.

Daegu Lo-Pay Second Discount Issuance Poster

The first issuance, which offered a 7% discount and began sales on August 1, reached approximately 75.3 billion won in sales within just 25 days. With the discount rate being significantly raised for this second issuance, even greater interest is expected.

As with the first round, there will be no monthly issuance limit for the second round, allowing citizens to recharge Daegu Lo-Pay at any time without having to log into the mobile app at dawn or wait in line at bank branches.

Recharging will be available through the "iM Shop" mobile app starting at 12:15 a.m. on September 1, and offline at iM Bank branches during their business hours.

The monthly purchase limit per individual will remain at 500,000 won, as before. However, ahead of major consumption seasons such as Chuseok (October 5-7) and Korea Sale Festa (November 6-30), if demand for issuance surges, the purchase limit per person may be adjusted depending on the issuance trend. Any such changes will be announced in advance through the "iM Shop" app.

Additionally, for the month of September, the maximum holding limit for Daegu Lo-Pay will be raised to 1 million won, allowing citizens who recharged 500,000 won at a 7% discount in August to fully benefit from the 13% discount offer.

Meanwhile, to assist citizens who have difficulty using the mobile app, Daegu is expanding the issuance of physical cards, which can be applied for by anyone at iM Bank branches. Furthermore, citizens who have received the "Livelihood Recovery Consumption Coupon" on their Daegu Lo-Pay card can recharge after registering the card either at iM Bank branches or through the "iM Shop" app.

Hong Sungjoo, Deputy Mayor for Economic Affairs of Daegu, stated, "We hope that many citizens will actively use Daegu Lo-Pay to enjoy the discount benefits and contribute to revitalizing the local economy. We expect that this increase in the discount rate will provide an opportunity for both local small business owners and citizens to prosper together, ultimately benefiting the regional economy."

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