Issued 200 Million to 300 Million Monthly... Available for Purchase at 5% Discount
Gangnam-gu, Seoul (District Mayor Jo Seong-myeong) will issue a total of 3 billion KRW worth of ‘Gangnam Ttaenggyeoyo Gift Certificates’ this year to overcome the ongoing economic recession and revitalize the local economy. Starting with 300 million KRW on the 2nd, it plans to issue 200 to 300 million KRW every month.
The Gangnam Ttaenggyeoyo Gift Certificates are local currency usable on Shinhan Bank’s public delivery app ‘Ttaenggyeoyo.’ Gangnam-gu signed an agreement with Shinhan Bank on November 21 last year to introduce this app as a public delivery platform to support small business owners.
Ttaenggyeoyo significantly reduces the burden on small business owners through the industry’s lowest 2% commission rate and ‘three no (無) benefits’?no entry fees, no monthly usage fees, and no advertising costs. Consumers can enjoy discounts by using the gift certificates as a payment method, benefiting both the local economy and residents.
The gift certificates will be sold from 10 a.m. on the 2nd via the Seoul Pay Plus (SeoulPay+) app and can be purchased at a 15% discount from the face value. The monthly purchase limit per person is 200,000 KRW, with a holding limit of 1,000,000 KRW. Purchased gift certificates must be used within 12 months from the purchase date.
Issuance occurs on the 1st of every month, and if the date falls on a holiday, issuance will take place on the next business day. The gift certificates can be used at over 3,000 restaurants located in Gangnam-gu registered on Ttaenggyeoyo.
Mayor Jo Seong-myeong said, “Gangnam Ttaenggyeoyo Gift Certificates are a win-win policy that breathes new life into small business owners and provides residents with affordable consumption opportunities.” He added, “We will continue to prepare various support measures to restore the livelihood economy.”
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