Consumption Increased by 9,848% Year-on-Year After Distribution
Active Spending Across Various Sectors Such as Supermarkets and Restaurants
Gokseong County, Jeollanam-do (Governor Jo Sangrae), has seen a clear effect in boosting local consumption through the Min Saeng Hwal Ryeok Support Fund, which was distributed to promote stability in residents' lives and revitalize the local economy.
According to the county on the 17th, an analysis of local consumption trends following the distribution of the support fund showed that, as of the 11th, the payment rate had reached 95%. The support fund was provided in the form of local gift certificates, which directly led to a virtuous cycle of consumption within the region.
This analysis quantitatively demonstrates that the Min Saeng Hwal Ryeok Support Fund policy promoted by Gokseong County has been practically helpful in the recovery of the local economy, and it is expected to serve as important reference data for similar policies in the future.
In particular, the analysis compared the Gokseong Simcheong Gift Certificates during the same period last year (March 17 to April 4, 2024) and after the distribution of the Min Saeng Hwal Ryeok Support Fund (March 17 to April 4, 2025). The number of policy gift certificate exchanges increased from 2,261 to 224,932, and the exchange amount rose from 22.61 million won to 2.24 billion won, confirming a remarkable 9,848% increase in consumption.
The support fund was not concentrated in specific industries but was evenly spent across various daily-life-related sectors within the region. The top sectors in terms of exchange amount were supermarkets, gas stations, restaurants, traditional markets, convenience stores, pharmacies, coffee shops, and clothing and household goods retail. This result shows that residents actively used the support fund for daily necessities, dining out, fuel, medical needs, and overall living expenses, positively impacting the entire local business community, including small business owners and self-employed individuals.
A county official stated, "This Min Saeng Hwal Ryeok Support Fund is a meaningful case that promoted local consumption and brought about tangible economic effects," adding, "We will continue to implement policies that residents can truly feel."
The official also added, "Since the support fund was provided in the form of local gift certificates that can only be used within the region, it prevented capital outflow and revitalized local consumption and the local economy."
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