100 Billion Yongsan Love Gift Certificates Sold at 7% Discount

Yongsan-gu Offers 7% Discount on Yongsan Love Gift Certificates

First-come, first-served sales start at 10 a.m. on June 1... Total scale of 10 billion KRW

Purchase via smartphone app... Reducing household burdens and revitalizing the local economy

Yongsan-gu will invest 700 million KRW of district funds to specially issue Yongsan Love Gift Certificates starting at 10 a.m. on June 1. The issuance scale is 10 billion KRW, with a 7% discount rate.

The Yongsan Love Gift Certificate is a mobile gift certificate issued to promote consumption among local residents and increase sales for small business owners. It can be used like cash at Seoul Pay affiliated stores.

The gift certificates come in three denominations: 10,000 KRW, 50,000 KRW, and 100,000 KRW. The maximum purchase limit per person is 500,000 KRW per month, and the holding limit is 1,500,000 KRW. The validity period of the gift certificates is five years from the date of issuance.

Purchases of the gift certificates can be made via smartphone. Those who wish to purchase can use any of five applications (Seoul Pay, Shinhan SOL, T-money Pay, Moneytree, Shinhan Play).

When purchasing goods or paying fees, scan the affiliated store’s QR code and pay with the mobile gift certificate. It can be freely used at over 8,000 Seoul Pay affiliated stores located in Yongsan-gu, including traditional markets, academies, restaurants, hospitals, pharmacies, and convenience stores. However, it cannot be used at large affiliated stores such as large supermarkets and department stores, or at stores in harmful or gambling-related industries, which are unrelated to the purpose of issuing local love gift certificates. The list of affiliated stores can be checked on the Seoul Pay app.

Kim Seonsu, Acting Mayor of Yongsan-gu, stated, “We are issuing mobile gift certificates that can be used throughout Yongsan-gu,” and added, “We hope this will help small business owners who are struggling due to the economic downturn.”

The district issued a total of 32.6 billion KRW worth of local gift certificates usable in six neighborhoods near Itaewon to help recover the Itaewon commercial district, which has faced difficulties since the October 29 tragedy, and completed sales on April 1.