Feb 8 • 04:26 UTC 🇰🇷 Korea Hankyoreh (KR)

‘1 trillion’ Seoul Love gift certificate on sale from the 11th… Naver Pay also available for payment

Seoul is set to release 1 trillion won in Seoul Love gift certificates on the 11th, allowing purchases using Naver Pay.

The Seoul city government has announced that it will release 1 trillion won (approximately $850 million) worth of Seoul Love gift certificates on November 11. This initiative is part of a larger plan to issue a total of 1.5 trillion won in certificates within the year. The gift certificates can be utilized at various partner stores across all 25 districts in Seoul and will be available for purchase through the 'Seoul Pay Plus' app at a 5% discount compared to their face value. To manage the simultaneous demand for purchases, the sale times are staggered based on the purchasers' birth years, with even birth years permitted to buy in the morning and odd ones in the afternoon.

A new feature called 'JJim Pay' has been introduced, allowing customers to reserve gift certificates without needing cash on the purchasing day. Users can secure these certificates for up to 60 days before making the payment, which can also be made using Naver Pay. There are limits on purchases, with individuals allowed to buy a maximum of 300,000 won, and hold a maximum of 1 million won in gift certificates. The certificates will remain valid for five years from the purchase date, and those purchased via bank transfer can be refunded if more than 60% of the amount is spent.

On the day of the issuance, specific features of the 'Seoul Pay Plus' app will be temporarily suspended to ensure system stability. This includes the store locator feature and the gift-giving function, which will be unavailable from 9:30 AM to 7 PM. The initiative reflects the city's ongoing efforts to stimulate the local economy through the preservation of local businesses and the promotion of a cashless transaction environment, potentially influencing consumer behavior in the region.

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