Gwangju Bank has launched a campaign to attract local tax payments for the South Jeolla Province-Gwangju integrated special city, competing with NH NongHyup Bank for designation as the integrated special city's primary treasury bank.
With local tax payment performance factored into the treasury selection evaluation, the bank is running a special customer appreciation event through July 31 to draw in tax payments.
Individual customers who pay 200,000 won ($134) or more in local taxes for the integrated special city and participate in the event through the bank's mobile banking app, Gwangju Wa Bank, will receive a mobile coupon for an iced Americano from Compose Coffee.
Customers who pay local taxes by card will also be eligible for a separate promotion offering up to three months of interest-free installment payments on transactions of 50,000 won or more.
For local tax payments, municipalities in South Jeolla Province and Gwangju notify taxpayers of virtual account numbers at several financial institutions, allowing them to choose which institution to pay through or to visit a branch in person.
Financial institutions do not publicly disclose their share of local tax payments, citing security reasons, but Gwangju Bank is understood to hold a relatively higher share in Gwangju than in the broader South Jeolla Province area.
Earlier, Gwangju Bank competed against NH NongHyup Bank for the integrated special city's primary treasury contract — valid through the end of December this year — but was not selected.
The integrated special city plans to choose a financial institution in September or October to operate its primary treasury for four years starting next year.
sij@heraldcorp.com
