Eunpyeong Sarang Gift Certificates Additional Issuance of 5.5 Billion Won

Additional Issuance of 5.5 Billion Won at 10 AM on the 15th... Continued Promotion of 10% Purchase Discount Rate

[Asia Economy Reporter Jongil Park] Eunpyeong-gu (Mayor Kim Mi-kyung) will issue an additional 5.5 billion KRW worth of Eunpyeong Love Gift Certificates at 10 a.m. on the 15th to support small business owners and revitalize the local economy.

Eunpyeong-gu initially issued 5 billion KRW worth of Eunpyeong Love Gift Certificates (hereafter referred to as gift certificates) on January 17 and has been promoting additional issuance to overcome the economic impact caused by the novel coronavirus disease (COVID-19).

This is the third additional issuance following the first on April 7 (2 billion KRW) and the second on May 20 (2 billion KRW). The total issuance amount after the third additional issuance is 14.5 billion KRW.

On May 20, during the second additional issuance, the gift certificates sold out around 11 a.m., demonstrating the popularity of the Eunpyeong Love Gift Certificates.

Accordingly, Eunpyeong-gu will apply a 10% purchase discount rate for this third additional issuance as well (the regular purchase discount rate is 7%).

The Eunpyeong Love Gift Certificates can be used at over 9,600 Zero Pay affiliated stores within Eunpyeong-gu. Additionally, according to the amendment of the government's Restriction of Special Taxation Act, users can receive an 80% income deduction benefit on the amount spent using the gift certificates from April to July, which is expected to be a great help not only to small business owners but also to the households of residents.