Yangsan City Raises Cashback Rate for Yangsan Sarang Gift Certificates in the First Half of the Year

Adjustment of Payment Limits and Rates to Promote Domestic Consumption and Revitalize the Local Economy
Individual Cashback Set at 7%, Limit Raised to 700,000 KRW, Up to 49,000 KRW Provided

Yangsan City in Gyeongnam, amid concerns over local economic stagnation and continued contraction in consumption, will raise both the payment limit and cashback rate for the Yangsan Sarang Gift Certificate within the first half of the year. This measure aims to ease citizens' financial burdens, promote domestic consumption, stabilize local prices, and revitalize the regional economy.

This year, the original plan for the Yangsan Sarang Gift Certificate set the cashback rate at 10% during holiday months and 7% during regular months, with an individual monthly purchase limit of 500,000 KRW and a total issuance of 180 billion KRW. However, due to challenging economic conditions, the city has revised its plan.

Accordingly, from February to June, the cashback rate will be set at 7% with an increased limit of 700,000 KRW, and the total issuance will be expanded to 200 billion KRW by the end of the year.

In an effort to boost consumption among citizens and support increased sales for small business owners and the self-employed during this period of stagnant domestic demand, the city has increased its supplementary budget support from the current 13.5 billion KRW to 15.8 billion KRW. This is the highest level among cities and counties in Gyeongnam Province.

Mayor Na Dongyeon stated, "With concerns over high prices and economic downturn making life more difficult not only for small business owners and the self-employed but also for ordinary citizens, we will prioritize the recovery of the local economy in all our policies."

Yangsan City Hall.