40% of Consumption Coupons Used at Restaurants... "Trend Toward Economic Recovery"

Approximately 40% of the livelihood recovery consumption coupons distributed via credit and debit cards were used at general restaurants.

Yonhap News Agency

According to the results on consumption coupon usage released by the Ministry of the Interior and Safety on December 4, out of the total 9.0668 trillion won (combined from the first and second rounds) distributed via credit and debit cards, 99.8% (9.0461 trillion won) was used by the deadline of November 30. The ministry assessed that the distribution of consumption coupons shifted spending, which had been focused online, toward local businesses and signaled a transition from economic stagnation to recovery.

Of all consumption coupons, 69.2% (34.64 million cases) were distributed via credit and debit cards, followed by 18.6% (9.3 million cases) through regional gift certificates, and 12.3% (6.15 million cases) via prepaid cards.

By type of business, among consumption coupons distributed via credit and debit cards, the largest share-40.3% (3.6419 trillion won)-was spent at general restaurants. This was followed by supermarkets and grocery stores at 16.0% (1.4498 trillion won), convenience stores at 10.8% (974.4 billion won), hospitals and pharmacies at 8.8% (795.2 billion won), private academies at 3.7% (337.3 billion won), and clothing and miscellaneous goods stores at 3.6% (329.4 billion won).

Major economic indicators also improved during the consumption coupon usage period. According to the Korea Development Institute (KDI), an analysis of credit card company sales for the six weeks immediately following the distribution of consumption coupons (July 21 to August 31) showed that sales in eligible sectors increased by an average of 4.93% compared to the two weeks prior to distribution. The Consumer Composite Sentiment Index (CCSI) surpassed 110 in July, when the distribution began, and reached 112.4 in November, the highest level in eight years.

Overall public satisfaction with the application and usage process for the consumption coupons was high. According to a joint survey by the Ministry of the Interior and Safety and the Ministry of Culture, Sports and Tourism conducted from November 13 to 20 with 2,000 respondents, 80.6% said that applying for the coupons was convenient. Additionally, 80.7% of respondents said that using the coupons was convenient.

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