Dongjak-gu to Issue 12 Billion Won Worth of Dongjak Love Gift Certificates on the 16th... 5+5% Discount

by Kim Minjin

Published 14 Jan.2025 07:49(KST)

Early Issuance to Address Economic Downturn and Declining Consumption

Dongjak-gu, Seoul (Mayor Park Il-ha) announced on the 14th that it will issue Dongjak Love Gift Certificates from 1 p.m. on the 16th to revitalize the local economy and stimulate consumption during the Lunar New Year holiday.

Park Il-ha, Mayor of Dongjak District, is visiting Namseong Sagesi Market during last year's Chuseok holiday, touring the market. Provided by Dongjak District Office.

In response to the prolonged economic downturn and reduced household consumption caused by the so-called ‘three highs era’ of high inflation, high interest rates, and high exchange rates, the district decided to issue the Dongjak Love Gift Certificates early.

The Dongjak Love Gift Certificates to be issued this time amount to 12 billion KRW, which corresponds to 40% of the total issuance target for this year. In particular, a 5% discount issuance and a 5% payback event will be held simultaneously, providing a total discount effect of 10%.

From January 16 to February 2, if payment is made using the Lunar New Year Dongjak Love Gift Certificates issued in January, 5% of the amount used can be received as a payback, and the event will end when the prepared budget is exhausted. Dongjak Love Gift Certificates can be purchased up to 500,000 KRW per person per month through the ‘Seoul Pay+’ app and can be held up to 1.5 million KRW.

Mayor Park Il-ha said, “To contribute to stimulating consumption and revitalizing domestic demand during the Lunar New Year, the great national holiday, we issued the Dongjak Love Gift Certificates early,” adding, “Since the holiday is long, I hope everyone spends a warm and abundant Lunar New Year with family and relatives and makes sure to take advantage of the payback.”