Gwangju Bank Holds Prize Presentation Ceremony for 2nd Anniversary Event of 'Gwangju Sangsaeng Card' Launch

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangju Bank (President Song Jongwook) announced the winners of the prize event commemorating the 2nd anniversary of the launch of the Gwangju Sangsaeng Card and held a prize presentation ceremony by inviting the first and second prize winners on the 26th.

This event was held from March 22 to June 21 to celebrate the 2nd anniversary of the launch of the ‘Gwangju Sangsaeng Card,’ a local currency of Gwangju Metropolitan City.

It was prepared to express gratitude to users and to increase local residents’ interest in and activation of the use of the Gwangju Sangsaeng Card.

Among 705 selected winners, the 1st prize winner received a Gwangju Sangsaeng Card loaded with 1,000,000 KRW, four 2nd prize winners each received a Gwangju Sangsaeng Card loaded with 500,000 KRW, and 700 3rd prize winners received 10,000 KRW gifticons, providing a total of prizes worth about 10 million KRW.

Song Jongwook, President of Gwangju Bank, said, “The Gwangju Sangsaeng Card, which practices love for the region and supports small business owners, is receiving much love from local residents. As a representative bank of Gwangju and Jeonnam, we will do our best to continuously support and promote it so that it can achieve regional economic revitalization and mutual development.”

Meanwhile, the Gwangju Sangsaeng Card, launched by Gwangju Metropolitan City to promote regional economic revitalization through increasing the income of small business owners in the Gwangju area, has become established as a local currency in the Gwangju region, receiving much interest and love from local residents, with a total usage amount reaching 1.3879 trillion KRW from its launch in March 2019 until June 2021.

Gwangju Bank expects that through the activation of the Gwangju Sangsaeng Card, funds in Gwangju will not leak outside but circulate within the region, thereby contributing to strengthening the competitiveness of the regional economy. In addition to issuing and operating the card, the bank is actively leading promotional activities.

Last year, to commemorate the 1st anniversary of the launch of the Gwangju Sangsaeng Card, a prize event was held to express gratitude to users and local residents and to increase interest and activation of the card’s use.

In February, to resolve the concentration of market share in domestic delivery apps and to support the non-face-to-face industry as well as local small business owners and self-employed people in preparation for the post-COVID-19 era, Gwangju Metropolitan City signed a business agreement regarding the Gwangju-type public delivery app ‘Wemakeprice O’ (Wemakeprice O) that is being promoted.

‘Wemakeprice O,’ which underwent pilot operation in April and began full operation in July, has no membership or advertising fees, a brokerage commission of 2%, of which 1% is returned as consumer benefits. Additionally, it supports online payment with the Gwangju Sangsaeng Card and includes a traditional market shopping function. As mutual benefits for merchants and consumers are expected, Gwangju Bank promised to perform roles such as system support for local currency payment linkage and promotion related to the operation of ‘Wemakeprice O.’