Seoul Love Gift Certificates Worth 265 Billion Won to Be Issued to Ease Chuseok Shopping Burden

[Financial News] Seoul Metropolitan Government will issue 265 billion won worth of Seoul Love Gift Certificates ahead of Chuseok to ease the burden of holiday shopping and revitalize local businesses. In particular, it has set aside 8 billion won exclusively for older residents who are less familiar with using smartphones, ensuring them an opportunity to make purchases for the first time. Seoul Metropolitan Government announced on the 11th that it will sequentially issue 80 billion won worth of metropolitan Seoul Love Gift Certificates, usable throughout Seoul, and 185 billion won worth of district-level gift certificates from the 14th through the 18th. The certificates can be purchased through the Seoul Pay Plus app, with a 5% discount applied at the time of purchase.
The key feature of this issuance is a dedicated purchasing program for older residents. Seoul Metropolitan Government has separately allocated 8 billion won out of the 80 billion won in metropolitan Seoul Love Gift Certificates. Among Seoul Pay Plus app subscribers, those born in 1961 or earlier will be given priority access from 9 a.m. on the 14th through the 17th, before sales open to the general public.
The senior-only gift certificates offer a 5% discount and 2% cashback in the form of gift certificates on the payment amount, providing benefits of up to 7%. In line with the purpose of the program, the dedicated certificates cannot be gifted to other users and must be used by the purchaser.
Seoul Metropolitan Government plans to analyze purchasing and payment data from this pilot issuance before expanding the senior-only program to district-level Seoul Love Gift Certificates. The measure is intended to improve what is known as “barrier regulation,” in which differences in smartphone operating speed lead to unequal purchasing opportunities.
Seoul Love Gift Certificates for the general public will be issued on the 18th, totaling 72 billion won. They will come with a 5% discount and 2% cashback on the payment amount. To spread out purchase traffic, people born in even-numbered years can buy them from noon to 2 p.m., while those born in odd-numbered years can purchase them from 3 p.m. to 5 p.m. The issuance amount for each time slot is 36 billion won.
District-level Seoul Love Gift Certificates will be sold across 24 districts from the 15th through the 18th, totaling 185 billion won. Because sales schedules and issuance amounts vary by district, buyers should check the purchase conditions on the Seoul Pay Plus app. Seongbuk District issued 20 billion won separately on the 28th of last month and is therefore excluded from this sale.
Additional benefits will also be offered by district. Jung-gu will provide 2% cashback on the payment amount, while Gangseo District, Guro District, Geumcheon District, and Gangnam-gu will provide 5%. As a result, residents of these districts can receive benefits of up to 10% when the 5% purchase discount and cashback are combined.
The payment methods for purchasing the certificates will also be expanded. In addition to existing bank transfers and card payments, purchases can be made with Naver Pay Money, and Seoul Metropolitan Government plans to add Toss and Kakao Pay in the future. Seoul Pay QR payment functions will be linked to payment terminals operated by NAVER Financial Corporation and Toss Place to improve convenience.
Seoul Love Gift Certificates can be purchased up to 500,000 won per person per month, with a holding limit of 1.5 million won. Unused certificates can be canceled in full, while certificates purchased by bank transfer can be refunded for the remaining balance once at least 60% of the held amount has been used.
Park Kyung-hwan, Director-General of the Civil Affairs and Labor Bureau of the Seoul Metropolitan Government, said, "We are issuing Seoul Love Gift Certificates to ease citizens’ shopping burden during Chuseok and support small-business sales." He added, "We have expanded older residents’ purchasing opportunities by establishing a senior-only allocation and a priority purchasing period for the first time. We hope more citizens will enjoy the benefits and that local businesses will gain renewed vitality as well."
[email protected] Seong Chorong Reporter