Boryeong City to Revitalize Traditional Markets and Small Businesses... Gift Certificate Discount Rate Raised from 10% to 15%

Up to 700,000 Won Monthly Purchase Limit
for Combined Paper and Mobile Certificates

Boryeong City Hall Exterior View

Boryeong City in South Chungcheong Province has significantly increased the discount rate for the Boryeong Sarang Gift Certificate from the previous 10% to 15% in order to boost the vitality of small businesses and traditional markets struggling with high interest rates and high inflation. Starting September 1, a total of 26 billion won worth of gift certificates will be issued, which is expected to invigorate the local economy.

The city announced on the 29th that it will issue a total of 26 billion won worth of Boryeong Sarang Gift Certificates on September 1.

The total issuance consists of 5 billion won in paper certificates and 21 billion won in mobile certificates. With the discount rate expanded from the previous 10% to 15%, it is expected to reduce the financial burden on citizens when making purchases.

This increase in the discount rate is a result of the expansion of the local gift certificate discount compensation budget following the government's second supplementary budget.

The national subsidy rate has doubled to 10% (for areas with declining populations), and with an additional 5% from local government funds, a total discount benefit of 15% can now be offered.

The purchase limit is up to 700,000 won per month per person, combining both paper and mobile certificates, with a maximum of 300,000 won allowed for paper certificates.

This measure is in line with the Ministry of the Interior and Safety's policy to prevent illicit distribution, aiming to reduce the issuance of paper certificates and promote the use of mobile certificates.

Mayor Kim Dongil stated, "The issuance of the Boryeong Sarang Gift Certificate is a key policy to prevent capital outflow and strengthen the virtuous cycle of the local economy. With the discount rate raised to 15%, we expect heightened interest from citizens, and we ask for your active cooperation in establishing a healthy culture of use without any illegal distribution."