80 Billion Won Yeongdeungpo Sarang Gift Certificates Issued at 3 PM on the 15th... 5% Discount Benefit
Early Issuance to Support Small Businesses and Revitalize Local Economy
Alleviating Grocery Prices and Year-End Income Deduction Benefits
Yeongdeungpo-gu (District Mayor Choi Ho-kwon) announced that it will issue 8 billion KRW worth of Yeongdeungpo Love Gift Certificates with a 5% discount benefit to revitalize the local economy and reduce the burden of holiday preparations for residents ahead of the Lunar New Year holiday.
With the Lunar New Year holiday just three weeks away, prices of major seasonal goods are rising due to political and economic uncertainties, and consumer sentiment is shrinking. In response, the district advanced the issuance schedule of the ‘Yeongdeungpo Love Gift Certificates’ to support small business owners and stimulate the local economy.
The first issuance date of the ‘Yeongdeungpo Love Gift Certificates’ this year is at 3 PM on the 15th. The issuance scale is 8 billion KRW, which is twice as large as last year’s Lunar New Year.
The ‘Yeongdeungpo Love Gift Certificates’ can be purchased through the ‘Seoul Pay Plus (SeoulPay+)’ app. The purchase amount is limited to 500,000 KRW per person per month and can be bought at a 5% discount off the face value. The total holding limit is 1.5 million KRW, and the certificates can be used within five years from the purchase date. If the gift certificates are not used after purchase, a full refund is possible. If partially used, refunds are available only if more than 60% of the balance has been spent.
The ‘Yeongdeungpo Love Gift Certificates’ can be used at approximately 12,000 affiliated stores including restaurants, cafes, and hair salons. To use, scan the QR code displayed at each affiliated store with the ‘Seoul Pay Plus (SeoulPay+)’ app and make the payment.
According to the district, completing app registration and payment information such as bank transfers in advance allows for quick and convenient purchase of the gift certificates on the issuance day.
Additionally, purchasing the ‘Yeongdeungpo Love Gift Certificates’ qualifies for income tax deductions during year-end tax settlement.
The district hopes that the ‘Yeongdeungpo Love Gift Certificates’ will revive the stagnant local economy and bring vitality to neighborhood businesses during the holiday season.
Choi Ho-kwon, Mayor of Yeongdeungpo-gu, stated, “We hope that the early issuance of the Yeongdeungpo Love Gift Certificates will help small business owners struggling with high inflation and reduced consumption,” and added, “We will continue to prepare livelihood economy policies that both small business owners and residents can feel, doing our best to revitalize the local economy and improve residents’ welfare.”
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