Increased Convenience in Mobile Payments and Charging Stations to Resolve User Inconveniences
Mayor Lee Gang-deok: "Activation Policies Will Revitalize the Local Economy"
The cumulative issuance amount of Pohang Sarang Gift Certificates has surpassed 2 trillion won.
Mayor Lee Kang-deok participating in the '2020 Pohang Economic Revitalization' Pohang Love Gift Certificate special discount event.
Pohang City announced that as of the 20th, the Pohang Sarang Gift Certificates, which began issuance in 2017 to prevent the outflow of local funds and support small business owners, have exceeded a cumulative issuance amount of 2.0365 trillion won.
Over the past seven years, Pohang Sarang Gift Certificates have grown with the love of citizens. Unlike credit cards, they can only be used within the Pohang area, encouraging local spending equivalent to the amount issued and sold, establishing themselves as the region’s top policy for revitalizing the local economy.
Additionally, by winning the national excellence award for local currency best practices in 2021, Pohang secured 100 million won in special local government grants, contributing to economic recovery amid downturns. This has played a crucial role in creating a virtuous economic cycle that reduces consumption outflow through rapid fund circulation not only in alleyway commercial districts but also in traditional markets.
In particular, responding to market changes toward digital currency, Pohang expanded convenience by launching the card-type Pohang Sarang Gift Certificate in 2020, enabling mobile (QR code) payments, Samsung Pay easy payments, and incorporating transportation card functions. This has greatly helped activate the local economy as not only residents but also tourists use the Pohang Sarang Card to visit local commercial districts.
In March last year, the offline charging points for the Pohang Sarang Card were expanded from 14 Daegu Bank branches to include 49 Daegu Bank ATMs and 1 self-service counter. Then in November, web charging services at other banks were significantly increased to 91 locations in areas without Daegu Bank branches, alleviating user inconvenience.
This year, Pohang City plans to revitalize alleyway commercial districts through the issuance of Pohang Sarang Cards, supporting small business owners with a 10% special discount sale for Lunar New Year and a regular 7% discount sale, dedicating full efforts to revitalizing the local economy.
Furthermore, a mobile gift certificate that can be used without a physical card will be launched within the year to expand users’ options and stimulate consumption by tourists visiting the region. Alongside this, activation of the mobile app (IM#) affiliated stores will provide various services to small business owners, helping to increase sales.
Moreover, during periods requiring consumption stimulation, purchase limits and card holding limits will be flexibly adjusted to enhance citizen satisfaction.
When purchased individually, Pohang Sarang Gift Certificates offer a discount benefit of 400,000 to 500,000 won per month (up to 6 million won annually). The paper-type certificates can be purchased at 165 sales agency financial institutions. The gift certificates can be used at approximately 20,000 affiliated stores, and store applications can be made by visiting Pohang City Hall or through the mobile app (IM#) and the city’s website.
Mayor Lee Kang-deok said, “I deeply thank the citizens who have loved and used Pohang Sarang Gift Certificates over the past seven years,” and added, “We will do our best to invigorate the local economy through policies to activate Pohang Sarang Gift Certificates and to drive the Pohang economy by increasing small business owners’ income.”
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