Starting Tomorrow, 10% Discount on Onnuri Gift Certificates... Up to 1 Million Won Per Person

Onnuri Gift Certificate Purchase Limit Raised from 700,000 Won to 1,000,000 Won per Month

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Starting tomorrow, paper Onnuri gift certificates will be sold at a 10% discount. From the 29th, during the Chuseok holiday period, masks will be on sale at up to 45% off at convenience stores in train stations. Companies that give Chuseok gifts to their employees will receive greater value-added tax (VAT) exemption benefits next year.

According to the Ministry of Economy and Finance on the 20th, various Chuseok livelihood stabilization measures containing these details will be fully implemented starting from the 21st.

First, from the 21st, paper Onnuri gift certificates will be sold at a 10% discounted price. For this month with Chuseok, the maximum purchase limit per person will increase from 500,000 won to 1,000,000 won. To receive the discount benefit, one must present an ID and purchase the gift certificates with cash at post offices or commercial banks.

The purchase limit for mobile Onnuri gift certificates will also be raised from 700,000 won to 1,000,000 won per month from tomorrow until the end of the year, with a 10% discount applied. Mobile gift certificates can be purchased through apps such as NongHyup All One Bank, Zero Pay, and Payco.

Masks will be sold at 282 convenience stores nationwide in train stations at prices discounted from a minimum of 16.7% to a maximum of 44.9%. The period is six days from the day before the Chuseok holiday, the 29th, to the last day, October 4th. KF94 masks, which are usually sold at around 1,500 won in pharmacies, can be purchased cheaper at train station convenience stores during this period.

Companies that give Chuseok gifts to their employees will receive more VAT exemption benefits next year than usual. Until now, when companies gave holiday, birthday, or congratulatory gifts to employees, a VAT exemption benefit of up to 100,000 won per employee per year was provided.

Meanwhile, going forward, both irregular congratulatory events such as weddings and childbirth, and regular events such as birthdays and holidays will each be exempted from tax up to 100,000 won, totaling 200,000 won. The government has announced a draft amendment to the Enforcement Decree of the Value-Added Tax Act to allow these benefits to be applied starting from this Chuseok.