Up to 30% Discount Benefits
Issued 4.8 Billion Won This Year
Gangnam District in Seoul will issue an additional 1.8 billion won worth of the local currency "Gangnam Ttaenggyeoyo Gift Certificate," which can be used on the public delivery app "Ttaenggyeoyo," starting at 10 a.m. on July 14. Originally, the district had planned to issue 3 billion won worth of gift certificates, but due to increased demand, a supplementary budget was allocated, raising the cumulative issuance to 4.8 billion won.
Gangnam District signed an agreement with Shinhan Bank in November last year and introduced the "Ttaenggyeoyo" service as a pilot district for Seoul's public delivery app. The service has received a strong response as it offers tangible benefits to both small business owners and consumers.
The number of "Ttaenggyeoyo" app subscribers increased by about 39%, from 82,991 in January to 115,705 in June. During the same period, the number of orders grew by approximately 160%, from 9,718 to 25,267. The total order amount also rose by about 196%, from 216.82 million won to 642.58 million won, demonstrating that the public delivery app is contributing to a real increase in sales for local small businesses.
Notably, between January and June of this year, 1.59961 billion won (about 70.3%) of the cumulative order amount of 2.27678 billion won was paid using the Gangnam Ttaenggyeoyo Gift Certificate. This figure proves that the gift certificate serves not only as a simple benefit but also as a catalyst that drives actual consumption.
The Gangnam Ttaenggyeoyo Gift Certificate can be purchased at a 15% discount through the Seoul Pay Plus app. The monthly purchase limit per person is 200,000 won, and the maximum holding limit is 1 million won. The certificate can be used for 12 months from the date of purchase.
Additionally, since April, the district has been running a payback promotion that offers up to 30% in total discounts, including a 10% payback on gift certificate payments and a 5% accumulation of "Ttaenggyeoyo" points based on the payment amount.
"Ttaenggyeoyo" reduces the financial burden on small business owners by offering the "three no" benefits: an industry-low 2% commission fee, no entry fee, no monthly usage fee, and no advertising costs. Consumers enjoy a variety of discounts, creating a virtuous cycle in which local funds circulate within the community.
Gangnam District Mayor Cho Sungmyung stated, "The additional issuance of gift certificates is a policy that is expected to ease household financial burdens for consumers and increase sales for small business owners, delivering a dual benefit. We will continue to actively develop and implement various support measures to help revitalize the local economy."
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