95.7% Distribution Rate Achieved
Expectations High for Local Economic Recovery
Naju City in South Jeolla Province has urged citizens to promptly use the "Recovery of People's Livelihood Consumption Coupon," which was distributed to boost local consumption and restore the local economy.
On August 8, Naju City announced that, as of August 7, 111,540 out of 116,531 eligible recipients (95.7%) had applied for the consumption coupon, resulting in a total payout of 21.974 billion won.
The city emphasized that the swift use of the consumption coupon is crucial to revitalize local businesses and small merchants, which have been hit hard by heavy rains and high inflation.
The consumption coupon can be used at different locations depending on the type of coupon issued.
Credit cards, debit cards, and prepaid cards can be used at local supermarkets, restaurants, clothing stores, hair salons, and optical shops, as long as the businesses are small merchants with annual sales of 3 billion won or less.
The Naju Love Gift Certificate can only be used at registered affiliated stores.
For the second round of the Recovery of People's Livelihood Consumption Coupon, all citizens except those in the top 10% income bracket will receive 100,000 won, with distribution scheduled to begin in September.
In addition, the city announced a strict response policy against illegal distribution of the consumption coupon.
If anyone is caught reselling or converting the coupon into cash, strong penalties will be imposed, including the recovery of subsidies, cancellation of merchant registration, fines, and criminal charges.
Currently, the city is operating a dedicated reporting center to crack down on illegal distribution.
Mayor Yoon Byungtae of Naju stated, "The Recovery of People's Livelihood Consumption Coupon is a valuable resource that helps stabilize citizens' lives and revitalize the stagnant local economy. I hope all Naju citizens will take the lead in supporting the local economy through responsible consumption, and the city will do its utmost to restore the local economy through continuous monitoring and guidance."
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