Miryang Sarang Gift Certificate Issuance Surpasses 300 Billion Won Cumulatively

Maximum Benefit Per Person, 45% of Small Business Owners Are Franchise Stores

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Wook] Miryang City in Gyeongnam is seeking to revitalize the local economy and support small business owners by issuing 80 billion KRW worth of Miryang Sarang Gift Certificates this year, aiming to recover from the economic downturn caused by high interest rates and high inflation.

The city first issued 5 billion KRW worth of paper-type Miryang Sarang Gift Certificates in 2019 to prevent capital outflow within the region and revitalize commercial districts. In 2020, it introduced mobile gift certificates (Zero Pay), and in 2021, launched card-type gift certificates (Miryang Sarang Card), creating an environment where citizens can conveniently use gift certificates according to their preferences and consumption patterns. The total cumulative issuance amount has reached 302 billion KRW as of this year.

Card-type Miryang Love Gift Certificate. [Image source = Miryang City Hall]

As a result of continuous promotional activities for affiliated stores, the city completed registration of 6,194 affiliated locations by early this year (3,122 paper, 3,792 card, 4,655 mobile). This means that about 45% of the 13,811 small business establishments in the area accept Miryang Sarang Gift Certificates.

Furthermore, when dividing the total issuance amount of 222 billion KRW over three years from 2019 to 2022 by the economically active population of approximately 58,000 people, the per capita issuance amount was 3,828,000 KRW, indicating the highest level of economic effect in the province.

This year, the city plans to continue the popularity of Miryang Sarang Gift Certificates by maintaining a 10% discount benefit and a maximum monthly purchase limit of 1 million KRW in total?600,000 KRW for card gift certificates, 200,000 KRW for paper gift certificates, and 200,000 KRW for mobile gift certificates?so that many citizens can enjoy the benefits.

A city official stated, “Miryang Sarang Gift Certificates are not just simple cash support but a real help to citizens’ household economies, and we will do our best to assist small business owners facing difficulties and contribute to economic recovery.”