Gwangju City in Gyeonggi to Raise Gwangju Sarang Card Incentive to 10%

Gwangju City in Gyeonggi Province announced on September 1 that, starting from September and continuing through December, it will increase the incentive rate for the Gwangju Sarang Card from the current 7% to 10% in order to revitalize the local economy.

Gwangju City Hall view. Provided by Gyeonggi Gwangju City

This measure aims to stimulate consumer spending among citizens and boost sales for local small businesses, thereby helping to revive the stagnant local economy. The incentive rate will be raised by 3 percentage points, from 7% to 10%. Each citizen can receive up to 100,000 won in incentives per month, based on a monthly recharge limit of 1 million won. The program may end early if the allocated budget is exhausted.

In particular, this increase in the incentive rate comes with a 500,000 won higher recharge limit compared to the previous Lunar New Year holiday. The city plans to use this opportunity to expand the issuance of local currency and inject new vitality into traditional markets and neighborhood commercial districts.

Mayor Bang Sehwan stated, "While we expect this measure to help small business owners struggling with high interest rates and rising prices by boosting their sales, it will also provide direct benefits to citizens, creating a virtuous cycle in the local economy. I encourage all citizens to use the Gwangju Sarang Card and actively support traditional markets and neighborhood businesses."

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