Yangsan City Raises Cashback Rate for Yangsan Sarang Gift Certificate in Second Half of the Year

Cashback Increased to 10% per Person and Monthly Limit Raised to 700,000 Won
Maximum Cashback Payment of 70,000 Won

Yangsan City in Gyeongnam Province announced that, amid ongoing concerns over local economic stagnation and continued contraction in consumer spending, it will raise both the monthly purchase limit and the cashback rate for the Yangsan Sarang Gift Certificate in the second half of the year. This measure is aimed at alleviating citizens' financial burdens, promoting domestic consumption, stabilizing local prices, and revitalizing the regional economy.

According to Yangsan City, the city originally planned to issue 190 billion won worth of Yangsan Sarang Gift Certificates this year, with a cashback rate of 10% during holiday months and 7% during regular months, and a monthly purchase limit of 700,000 won per person. However, to help revive the sluggish domestic market, the city will issue an additional 40 billion won, expanding the total issuance to 230 billion won by the end of the year.

For the second half of the year, the monthly purchase limit for the Yangsan Sarang Gift Certificate will remain at 700,000 won, but the discount rate will be increased from the previous 7% to 10%. This is expected to promote the circulation of funds within the region and stimulate the local economy.

With domestic consumption still stagnant, the city has secured additional funding from the national government and other sources in this supplementary budget to support the cashback program, aiming to boost sales for small business owners and self-employed individuals. As a result, the cashback budget has been increased from the current 15.8 billion won to 18.9 billion won. Of the total budget, 15.2 billion won will be provided by the city itself, which is the largest amount among cities and counties in Gyeongnam Province.

Mayor Na Dongyeon stated, "By significantly expanding the benefits of the Yangsan Sarang Gift Certificate, we hope not only to revitalize local consumption and restore commercial districts, but also to enhance the convenience of daily life for citizens." He added, "We will continue to do our utmost to support local economic recovery and protect small business owners."