A notice indicating that livelihood recovery consumption coupons can be used at traditional markets is posted. Yonhap News

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The "Livelihood Recovery Consumer Coupon," distributed by the government to boost domestic demand, has shown tangible results by effectively stimulating consumption in its very first week of implementation.

Credit card sales among small businesses nationwide increased by more than 2% compared to the previous week. In particular, sectors closely related to daily life, such as fashion and apparel and dining out, saw double-digit surges in sales, which is being interpreted as a sign of economic recovery.

What is drawing attention is that the business category with the highest increase in sales turned out to be an "unexpected place."

According to data analyzed by Korea Credit Data (KCD) on card sales at 382,207 small business locations nationwide during the week when the Livelihood Recovery Consumer Coupon was first distributed (July 21-27), the average card sales of small businesses increased by 2.2% compared to the previous week.

Glasses are displayed at the optical store. Pixabay

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Sales in the optician shop sector soared by 56.8% compared to the previous week, recording the highest growth rate. Sales in the fashion and apparel sector also rose by 28.4%, followed by noodle restaurants (25.5%), foreign language academies (24.2%), pizza (23.7%), sushi and roll restaurants (22.4%), beauty salons (21.2%), and sports and leisure goods (19.9%), all showing significant increases.

Sales in the distribution sector grew by 12%, while sales in the service sector declined by 3%. However, service sector sales were up 5.1% compared to the same period last year.

A KCD official stated, "It is analyzed that the service sector did not rebound due to the combination of the heatwave and the late July vacation period."

By region, Gyeongnam (9.4%), Jeonbuk (7.5%), Gangwon (6.6%), Chungnam (5.8%), Ulsan (5.8%), and Daegu (5.7%) saw large increases in sales compared to the previous week, while Seoul (-4.0%) and Jeju (-0.8%) experienced declines.

On July 27, the first weekend after the distribution of the Livelihood Recovery Consumption Coupons, a banner indicating "Livelihood Recovery Coupon Usage Location" was displayed at a store in Gyeongsan, Gyeongbuk. Photo by Yonhap News

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Kang Yewon, Head of Data at KCD, said, "It is believed that the Livelihood Recovery Consumer Coupon policy had a positive effect on small business sales immediately after implementation." She added, "As there have been clear changes in sales in everyday sectors such as distribution, dining, and beauty, we hope the policy will lead to the recovery of even more neighborhood businesses."

A notice indicating that the Minsheng Recovery Support Fund can be used at the restaurant is posted. Yonhap News

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In fact, within just ten days of implementation, about 90% of the population, or 45.55 million people, had applied for the consumer coupon, with cumulative payments reaching 8.2371 trillion won.

Experts are noting that this consumer coupon policy goes beyond simple cash support, being designed as a structural policy that aims for both balanced regional development and domestic demand recovery. They analyze that whether such effects can continue to spread will be a key point going forward.