Seoul City to Issue Seoul Love Gift Certificates Worth 275.5 Billion Won for Chuseok... 7% Discount Sale

[Financial News] Seoul City announced on the 7th that it will issue Seoul Love Gift Certificates worth 275.5 billion won by district for three days from the 16th to the 18th to revitalize the local economy for the Chuseok holiday. This Seoul Love Gift Certificate will be sold with the discount rate expanded from the existing 5% to 7%.
Starting with districts like Yongsan and Seocho, gift certificates for 9 districts will be available on the 16th, for 9 districts including Gangbuk and Dobong on the 17th, and for 7 districts including Geumcheon and Eunpyeong on the 18th.
In addition, 11 districts (Jung-gu, Yongsan, Seongbuk, Seodaemun, Yangcheon, Gangseo, Guro, Geumcheon, Dongjak, Gwanak, Gangnam) will also hold a payback event that refunds 2-5% of the payment amount as gift certificates when paying with local gift certificates. Considering that local gift certificates can be purchased at a 7% discounted price, you can receive up to a 12% discount benefit.
From the Chuseok issuance, gift certificates can also be purchased through Naver Pay, which is mainly used by the youth. 
Seoul Love Gift Certificates can be purchased at a 7% discounted price up to 500,000 won per person per month on the Seoul Pay Plus (Seoulpay+) application (app), and the holding limit is 1.5 million won per person. Due to possible processing delays caused by system overload at the time of issuance, it is advisable to download the Seoul Pay Plus app in advance and register as a member. 
Lee Hae-sun, Director of the Seoul City Livelihood and Labor Bureau, said, "As the discount rate has been expanded to 7% for this Chuseok Seoul Love Gift Certificate issuance, it is expected to provide practical help to small businesses and citizens who are struggling with the domestic market slump ahead of the holiday."

ronia@fnnews.com Lee Seol-young Reporter