Sacheon-si Issues Additional 10 Billion Won in Sacheon Love Gift Certificates

Sacheon City in Gyeongnam Province will issue an additional 10 billion KRW worth of the local currency, Sacheon Sarang Gift Certificates.

According to the city on the 17th, on January 10th, Sacheon Sarang Gift Certificates worth 10 billion KRW (5 billion KRW in mobile certificates and 5 billion KRW in paper certificates) were issued to stabilize the management of small businesses and promote a virtuous cycle in the local economy.

Among these Sacheon Sarang Gift Certificates, the mobile certificates were completely sold out within 82 days of issuance. As of the 14th, paper certificates showed a sales rate of 53%, amounting to approximately 2.627 billion KRW.

Park Dong-sik, Mayor of Sacheon City, Gyeongnam, is making the first purchase since the launch of Sacheon Love Gift Certificates.

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Accordingly, the city secured a budget through the first supplementary budget and will issue an additional 10 billion KRW worth of Sacheon Sarang Gift Certificates (8 billion KRW in mobile certificates and 2 billion KRW in paper certificates).

For this additional issuance, mobile certificates will be issued every two months: 2 billion KRW in May (Family Month), 1 billion KRW in July, 4 billion KRW in September (during Chuseok), and 1 billion KRW in November, totaling 8 billion KRW.

In particular, reflecting citizens' opinions, the purchase time for mobile certificates will be changed from midnight to 9 a.m. Starting May 1st, purchases can be made from 9 a.m., and the holding limit is up to 1.5 million KRW.

Sacheon Sarang Gift Certificates can be purchased up to 400,000 KRW per person monthly (200,000 KRW in paper certificates and 200,000 KRW in mobile certificates). The minimum age for purchasing paper certificates is 19 years old, and for mobile certificates, 14 years old. However, certificates cannot be purchased once the issuance amount is exhausted.

Mayor Park Dongsik said, “The additional issuance of Sacheon Sarang Gift Certificates is expected to revitalize the local economy by stimulating large-scale consumption and boosting domestic demand. We ask that many people use our city’s local currency, Sacheon Sarang Gift Certificates.”

Currently, 4,325 local businesses are registered as affiliated stores, an increase of 278 stores since January. Small business owners who wish to register as affiliated stores can apply through the city’s Local Economy Division or the Eup, Myeon, Dong Administrative Welfare Centers.

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