Yeongcheon to offer 15% discount on local gift certificates ahead of chuseok

Yeongcheon City in North Gyeongsang Province announced Monday it will raise the discount rate on its Yeongcheon Love gift certificates — available in both paper and card form — from 10 percent to 15 percent for one month starting in September, aiming to ease household costs and boost local spending around the chuseok holiday.

The monthly purchase limit per individual is 1 million won ($718) — 900,000 won for the card type and 100,000 won for the paper type. Corporations and organizations are not eligible for the discounted rate.

Individuals who purchase up to the monthly limit can receive a maximum discount of 15 percent.

The certificates are available at 42 financial institutions in the city, including Nonghyup Bank, iM Bank, local agricultural and livestock cooperatives, and saemaul credit unions, as well as through the local gift certificate app "Chak."

They are accepted at more than 4,500 affiliated merchants across the city.

To prevent fraudulent use stemming from the higher discount rate, the city will strengthen monitoring of purchase and redemption records through its gift certificate management system and conduct on-site inspections of merchants suspected of irregular transactions to maintain orderly retail distribution.

"Through this special chuseok discount, we expect to provide residents with real savings of up to 150,000 won on living expenses, while also giving local small business owners an opportunity to increase sales," a city official said.