93% of 392.4 Billion Issued Over 3 Years Sold... A Strong Pillar of the Local Economy
[Haenam=Asia Economy Honam Reporting Headquarters Reporter Kim Hyun] The Haenam Sarang Gift Certificate, issued by Haenam County in Jeollanam-do, has grown to become the largest-scale local gift certificate in a county nationwide in three years, earning recognition as a strong pillar supporting the local economy during the COVID-19 era.
Launched in April 2019 with a scale of 17 billion KRW alongside the inauguration of the 7th local government, the Haenam Sarang Gift Certificate expanded to 175 billion KRW by 2021, just three years later.
As of now, after three full years, a total of 392.4 billion KRW has been issued and 366 billion KRW sold, making it the largest local gift certificate in a county nationwide.
Not only issuance and sales, but also redemption amounts reached 343.7 billion KRW, with a redemption rate of 93.9%, leading to actual sales increases for Haenam Sarang Gift Certificate affiliated stores. Both consumers and store owners are benefiting economically, playing a vital role as a pillar for revitalizing the local economy.
The county has secured 3,534 affiliated stores for paper gift certificates and 2,551 for card gift certificates to create an environment where the gift certificates can be conveniently used anywhere in Haenam.
By paying policy allowances such as the farmers and fishermen public interest allowance, COVID-19 disaster relief funds for all residents, and 90% of public officials’ welfare points in Haenam Sarang Gift Certificates, the county has established a foundation for local economic circulation, playing a major role in overcoming the COVID-19 crisis over the past three years.
Through active attraction of national and provincial funds, the county secured 22.8 billion KRW in such funds over three years, also achieving effects that directly return benefits to residents through discounted sales of the gift certificates.
According to a research service conducted by the Korea Institute of Local Administration, the added value created based on the sales amount of Haenam Sarang Gift Certificates to date is analyzed to be as high as 74.6 billion KRW.
This year, the gift certificates are planned to be expanded to a scale of 145 billion KRW, with the 10% discount sales continuing.
In May, the month of family, the discount purchase limit was increased to 700,000 KRW to provide more benefits to residents.
County Governor Myeong Hyun-gwan said, “I thank the residents who have led the growth of the Haenam Sarang Gift Certificate, and we will continue to strive to make the Haenam Sarang Gift Certificate a local gift certificate that residents can feel more convenience and benefits from in their daily lives.”
The Haenam Sarang Gift Certificate can be purchased by anyone residing inside or outside the county, but usage is only possible at affiliated stores located within Haenam County. Gift certificates can be purchased at 35 financial institutions designated by Haenam County (including local agricultural, livestock, and fisheries cooperatives, credit unions, Gwangju Bank, Saemaeul Geumgo, and the Forestry Cooperative). Since the launch of the card gift certificate in January last year, usage has become even more convenient.
Meanwhile, Haenam County was the only one in Jeollanam-do to receive the Excellence Award in the Local Love Gift Certificate Best Practice Evaluation hosted by the Ministry of the Interior and Safety in 2021, and only three counties nationwide received this award.
Haenam=Asia Economy Honam Reporting Headquarters Reporter Kim Hyun
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