Boseong-gun Maintains 10% Discount Rate for Boseong Sarang Gift Certificates

Branch, Card 10%, Monthly Purchase Limit 700,000 Won

[Boseong=Asia Economy Honam Reporting Headquarters, Reporter Park Cheon-seok] Jeollanam-do Boseong-gun announced that in 2023, it will maintain a 10% discount rate on the local currency, Boseong Sarang Gift Certificates, to prevent the outflow of local funds and revitalize the struggling neighborhood commercial districts.

'Boseong Sarang Gift Certificates' come in four types of paper vouchers (1,000 won, 5,000 won, 10,000 won, 50,000 won) and card-type gift certificates, with a personal purchase limit of 700,000 won per month (8.4 million won annually).

Gift certificates can be purchased at 33 designated financial institutions including NH Nonghyup Bank Boseong Branch, local agricultural and livestock cooperatives, Saemaeul Geumgo, credit unions, fisheries cooperatives, Gwangju Bank, and the Korea Forest Service cooperative.

The Boseong Sarang Card allows users to check card issuance, charging, usage history, and balance in real time through the dedicated app (CHAK).

Elderly residents or those who have difficulty using smartphones can also get card issuance and charging services at Nonghyup, post offices, etc. (excluding Gwangju Bank).

Currently, a total of 1,890 businesses are registered as Boseong Sarang Gift Certificate affiliated stores, where the certificates can be used not only in traditional markets but also in gas stations, restaurants, bookstores, academies, pharmacies, and almost all other business sectors.

At affiliated stores displaying the 'Boseong Sarang Gift Certificate' designated sticker, the certificates can be used like cash, and for paper vouchers, if more than 80% of the purchase amount is used, change can be received.

Affiliated stores can exchange the certificates at Nonghyup without bearing card or registration fees, receiving the face value amount in cash.

Local currency has been well received as it prevents the outflow of funds and promotes sales for small business owners amid ongoing economic crises such as consumption contraction, high inflation, and high interest rates.

A Boseong-gun official said, "With the upcoming traditional Korean holiday, Seol, the discounted sale of Boseong Sarang Gift Certificates benefits both consumers and affiliated stores, helping to restore sluggish consumer sentiment and lead to the revitalization of the local economy."

Boseong=Asia Economy Honam Reporting Headquarters, Reporter Park Cheon-seok hss79@asiae.co.kr