Next Month, 3.3 Million Dining Discount Coupons to Be Released

Get a 10,000 KRW discount on a first-come, first-served basis when using a card 5 times for over 20,000 KRW on weekends

168.4 billion KRW invested in 8 types of consumer coupons

16.18 million beneficiaries expected to boost consumption by 900 billion KRW

Due to the impact of COVID-19, Jonggak Youth Street was quiet on the weekend of the 23rd. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Joo Sang-don] The government will distribute 3.3 million discount coupons worth 10,000 KRW each on a first-come, first-served basis starting next month when dining at restaurants. This is intended to stimulate consumption.

According to the Ministry of Economy and Finance on the 8th, the third supplementary budget (supplementary budget) approved by the National Assembly on the 3rd included a budget of 34.8 billion KRW for issuing dining discount coupons.

The government expects a total consumption of 900 billion KRW by providing '8 major discount consumer coupons'?covering dining, agricultural and marine products, lodging, tourism, performances, movies, exhibitions, and sports?to 16.18 million people, about 3 out of every 10 citizens, with a total investment of 168.4 billion KRW.

To receive the dining coupon, one must use a card to spend over 20,000 KRW five times at dining establishments on weekends. The discount coupons will be provided by card companies either through card points or by deducting from the payment amount. The government plans to select participating card companies within this month.

Agricultural and marine product discount coupons are expected to be released as early as the end of this month. A budget of 62 billion KRW was allocated in the supplementary budget. Up to 6 million purchasers of agricultural and marine products will receive up to 20% off the product price (with a limit of 10,000 KRW). These coupons will also be distributed on a first-come, first-served basis. The coupons are expected to be usable at specialized agricultural and marine product malls, markets operated by local governments, large retailers, and traditional markets.

Exhibition discount coupons for museums and art galleries, with a budget of 9 billion KRW in the supplementary budget, are expected to be distributed next month in line with Museum and Art Gallery Week. About 3.5 million online reservation holders for museums and art galleries will receive coupons offering discounts of 2,000 to 3,000 KRW.

Additionally, lodging discount coupons (budgeted at 29 billion KRW) and tourism discount coupons (9.7 billion KRW) are expected to be usable on-site starting from September. With lodging discount coupons, 1 million online reservation holders will receive discounts of 30,000 to 40,000 KRW, and with tourism discount coupons, 150,000 people who book or prepay for selected excellent tourism products through a contest will receive a 30% discount.

Furthermore, with sports discount coupons, 400,000 people who pay for monthly passes at indoor sports facilities such as health clubs can get a 30,000 KRW refund, and with performance and movie discount coupons, 1.83 million online reservation holders can receive discounts of 6,000 to 8,000 KRW. Budgets of 12.2 billion KRW and 11.7 billion KRW have been allocated respectively. However, the government plans to flexibly adjust the timing of coupon issuance depending on the COVID-19 situation.

Alongside this, the supplementary budget includes an additional 150 billion KRW for refunds on purchases of high-efficiency home appliances. When purchasing 'Grade 1' products with the highest energy efficiency?such as TVs, air conditioners, refrigerators, washing machines, air purifiers, dehumidifiers, vacuum cleaners, electric rice cookers, kimchi refrigerators, and water purifiers?10% of the purchase price will be refunded up to a limit of 300,000 KRW. Starting this month, clothes dryers have also been added to the list of eligible high-efficiency home appliances for purchase refunds.