KFTC: "Military Personnel Can Now Conveniently Use Paper Gift Certificates as Points"

Improvement effects when building the related system. Photo by Korea Financial Telecommunications and Clearings Institute

[Asia Economy Reporter Song Seung-seop] The Korea Financial Telecommunications and Clearings Institute (KFTC) and related organizations will collaborate to allow military personnel to use incentives previously given as paper gift certificates as points.

On the 3rd, KFTC signed a memorandum of understanding (MOU) at the Gangwon Provincial Office with Gangwon Province, five counties in the Peace Region (Cheorwon, Hwacheon, Yanggu, Inje, and Goseong), and the Military Mutual Aid Association to expand the "Peace Region Military Personnel Preferred Business Development and Incentive Support Project."

According to the agreement, KFTC will provide incentives for preferred businesses paid to military personnel in points in cooperation with the Military Mutual Aid Association. Infrastructure will be established so that military personnel can check their points on smartphones and place orders and make payments online and offline in advance.

Currently, Gangwon Province provides incentives amounting to 30% of the payment amount in paper gift certificates when military personnel use preferred businesses within the region. KFTC explained that the infrastructure development will eliminate the inconvenience of using paper gift certificates each time preferred businesses are used. It is also expected to contribute to the expansion of military personnel's use of preferred businesses and the revitalization of the Gangwon regional economy.

A KFTC official emphasized, "We will continue to actively cooperate with related organizations to contribute to the welfare improvement of military personnel and the revitalization of the local economy."