Gangwon Province Expands Local Love Gift Certificates to 90.5 Billion Won for Lunar New Year...Discounts Up to 20%

Additional 2 Billion Won in "Gangwon Gift Certificates" Issuance
Higher Purchase Limits and Discount Rates for "City and County Local Love Gift Certificates"

Gangwon Special Self-Governing Province will issue local love gift certificates worth a total of 90.5 billion won for the Lunar New Year holiday to stimulate the local economy, including 6 billion won in "Gangwon Gift Certificates" and 84.5 billion won in city and county-specific local love gift certificates.

View of the Gangwon Provincial Government office. Provided by Gangwon Provincial Government.

Taking this Lunar New Year holiday as an opportunity, the "Gangwon Gift Certificates" issued by the province will be expanded from the existing 4 billion won to 6 billion won, and can be purchased at a 5% discount, up to 200,000 won per person per month.

The local love gift certificates issued by cities and counties will be expanded from the existing 66.1 billion won to 84.5 billion won. Depending on each city and county, a discount rate of 10% to 20% will be applied, and they can be purchased from 300,000 won up to a maximum of 2 million won per person per month.

Some cities and counties will also run consumption promotion events that provide additional savings benefits (Yeongwol, Pyeongchang) and cashback incentives through prize draws based on the amount of gift certificates used (Yanggu, Inje).

Users of the local love gift certificates can receive an income tax deduction of 30% on the amount they spend, while small business owners that are affiliated merchants can expect to increase their sales without bearing any payment processing fees.

Kim Manho, Director General of Economy of Gangwon Special Self-Governing Province, stated, "Ahead of the Lunar New Year holiday, we have increased the issuance volume of the gift certificates to expand benefits that residents can feel directly in the field and to ensure that consumption leads directly to higher sales for small business owners," adding, "We will continue to promote local economic revitalization policies that boost consumption within the region and deliver tangible effects in people's daily lives."

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