Issuance of 8 Billion KRW Scale 4th Phase Songpa Sarang Gift Certificates

Issuance Worth 8 Billion Won at 10 AM on September 23 Ahead of Chuseok

[Asia Economy Reporter Jongil Park] Songpa-gu (Mayor Park Seong-su) will issue an additional 8 billion KRW worth of Songpa Love Gift Certificates to help small business owners and residents who are facing difficulties due to the resurgence of COVID-19.

The district plans to urgently issue the 4th round of Songpa Love Gift Certificates worth 8 billion KRW at 10 a.m. on September 23, anticipating reduced travel to hometowns and increased local consumption during the upcoming Chuseok holiday period.

A total of 20 billion KRW worth of Songpa Love Gift Certificates have been issued in three rounds this year, and as the number of issuance rounds accumulates, the fixed demand base and promotional effects have accelerated the sell-out speed.

Since early depletion on the day of issuance is also expected for this 4th round, those wishing to purchase are advised to do so on the day of issuance.

This Songpa Love Gift Certificate will be issued with a 7% discount (monthly purchase limit of 700,000 KRW) totaling 8 billion KRW.

Purchases can be made after identity verification and payment account registration through smartphone simple payment apps (a total of 14 apps including Beeple Zero Pay, Check Pay, Money Tree, etc.), and the usage method is the same as Zero Pay payment.

Songpa Love Gift Certificates can be used at about 14,000 Zero Pay affiliated stores located in Songpa-gu, including academies, restaurants, pharmacies, convenience stores, etc. However, in accordance with the purpose of the gift certificates to increase sales for small businesses, they cannot be used at large franchises such as Lotte Mart, E-Mart, Daiso, or in luxury and entertainment industries.

The gift certificates are issued in three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW. Full refunds are possible within 7 days after purchase, and after that, refunds of the remaining balance are possible if more than 80% has been used.

In addition, the district is recruiting affiliated stores to join Zero Delivery Union, which started on September 16. The ‘Zero Delivery Union’ is an order delivery service promoted by Seoul City through a public-private partnership to reduce the high delivery brokerage fees in the delivery app market and ease the burden on small business owners.

When using this app, unlike the existing large delivery platform companies’ fees ranging from 6% to 12%, only fees below 2% are charged, which is expected to provide practical help to small business owners.

Mayor Park Seong-su said, “Ahead of the holidays, I hope that the 4th issuance of the Songpa Love Gift Certificates will be a great support to small business owners and residents,” and added, “To help the local economy, which is in difficulty, regain vitality, please refrain from traveling far during the holiday period and actively utilize local consumption.”