Jinju City Issues Additional 11 Billion Won of Jinju Sarang Gift Certificates

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province announced on the 25th that it will issue an additional 11 billion KRW worth of Jinju Sarang Gift Certificates to support small business owners struggling due to the novel coronavirus infection (COVID-19).

The city expects that the Jinju Sarang Gift Certificates will revitalize the local economy in conjunction with festivals held in Jinju, such as the Gaecheon Arts Festival, and the Korea Sale Festa.

Last year, the city issued Jinju Sarang Gift Certificates worth 8 billion KRW. This year, a total of 50 billion KRW worth will be issued to aid small business support and local economic recovery.

The Jinju Sarang Gift Certificates have no fees for affiliated store owners, and consumers can conveniently purchase them non-face-to-face, leading to increasing demand and creating a virtuous cycle in the local economy.

The gift certificates come in two forms: paper and mobile. They can be purchased up to a monthly limit of 300,000 KRW per person, with a 10% discount rate, and can be used at approximately 4,800 affiliated stores.

Mayor Cho Gyu-il of Jinju said, “We hope that the additional issuance of Jinju Sarang Gift Certificates will bring vitality to the depressed local shopping districts,” and added, “We hope to overcome these difficult times and recover daily life along with the local economy.”