'Pyeongtaek Sarang Gift Certificate' Discount Rate and Usage Limit Increased

Discount Rate Increased from 6% to 7%, Monthly Limit Raised from 500,000 to 700,000 KRW
Cashback Also Raised from 4% to 6%... Effective from September

Pyeongtaek City in Gyeonggi Province announced on the 23rd that it will increase the benefits of the 'Pyeongtaek Sarang Gift Certificate' and implement the changes starting September 1.

The city will raise the incentive discount rate given when purchasing the gift certificate from the previous 6% to 7%, and expand the monthly purchase discount limit per person from the previous 500,000 KRW (300,000 KRW for card type, 200,000 KRW for paper type) to 700,000 KRW (500,000 KRW for card type, 200,000 KRW for paper type).

In February, the city had lowered the incentive discount rate to 6% due to the exhaustion of the incentive budget. However, with the recent securing of national and provincial subsidies, the city explained that it raised the rate back to 7% and increased the purchase limit.

Additionally, to revitalize the sluggish local economy, the city said it will increase the monthly consumption support fund per person from a maximum of 12,000 KRW to 30,000 KRW and will provide it until the budget is exhausted. The consumption support fund is given in the form of cashback, where consumers receive 6% of the payment amount back when using the Pyeongtaek Sarang Card. The cashback received is automatically used as a prepayment on the next purchase, and if not used within three months from the date of issuance, it will automatically expire.

A city official said, “We hope that the consumption supported by the consumption support fund will lead to additional sales for local merchants and help revitalize the local economy.”