Onnuri Gift Certificate Merchant Eligibility Limited to Annual Sales of 3 Billion Won or Less

Eligibility for Onnuri Gift Certificate Merchants
Now Limited to Small Businesses with Annual Sales of 3 Billion Won or Less

The eligibility criteria for Onnuri Gift Certificate merchants will be limited to small business owners with annual sales of 3 billion won or less. This measure reflects concerns that the original purpose of the system-to boost sales for small and micro business owners-has been undermined due to the absence of a sales cap.

Noh Yongseok, Vice Minister of the Ministry of SMEs and Startups, is delivering a greeting at the '3rd Meeting on Strengthening the Recovery and Safety Net for Small Business Owners' held at the Seoul Employment Welfare Plus Center in Jung-gu, Seoul.

On September 1, the Ministry of SMEs and Startups held a meeting with the National Federation of Merchants and announced a policy improvement plan to limit Onnuri Gift Certificate merchant eligibility to small business owners with annual sales of 3 billion won or less.

According to the ministry, the eligibility for Onnuri Gift Certificate merchants will be restricted to those with annual sales of 3 billion won or less, in order to focus support on small business owners who need it most. The 3 billion won annual sales threshold is consistent with the standards used by the Ministry of the Interior and Safety for local gift certificates and by the Financial Services Commission for preferential card fee rates for small and medium-sized merchants. The ministry plans to swiftly prepare an amendment to the "Special Act on the Promotion of Traditional Markets and Shopping Districts" to ensure the successful implementation of the new system.

The Onnuri Gift Certificate system was introduced to support sales growth for vulnerable business districts such as traditional markets and small merchants. However, there have been ongoing criticisms of structural limitations, as the lack of a sales cap allowed some large supermarkets and major hospitals and clinics to benefit from the program.

Vice Minister Noh Yongseok stated, "With this reform, the Onnuri Gift Certificate can now serve as a stronger catalyst for revitalizing small business owners and vulnerable commercial districts. We will continue to work closely with the National Federation of Merchants to promote the use of Onnuri Gift Certificates and eradicate illicit distribution."

Lee Chunghwan, President of the National Federation of Merchants, said, "We expect that this reform, which introduces an annual sales limit, will be welcome news for merchants in traditional markets and neighborhood commercial districts who are struggling in a tough economic environment. We ask the Ministry of SMEs and Startups to continue managing the system so that the Onnuri Gift Certificate can become an even stronger pillar for neighborhood businesses."

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