Seoul offers up to 15% savings via local gift card promotion
A promotional poster advertises an additional 5 percent payback on Seoul Love Gift Certificates during the Korea Grand Festival, offering total savings of up to 15 percent / Courtesy of Seoul Metropolitan Government
Seoul residents can get more money back on everyday purchases starting Thursday, as the city rolls out additional cashback on local gift certificates during a nationwide shopping festival aimed at boosting consumer spending and small businesses.
The Seoul Metropolitan Government said Tuesday that purchases made with metropolitan and district-issued Seoul Love Gift Certificates from Oct. 29 through Nov. 15 will qualify for an additional 5 percent cashback, paid in gift certificates.
Combined with a 5 percent discount when buying eligible certificates and existing cashback offers, the promotion can deliver savings equivalent to as much as 15 percent of the purchase amount.
For example, a shopper who buys 100,000 won worth of gift certificates at a 5 percent discount pays 95,000 won and can receive another 10,000 won in cashback if both the existing and additional 5 percent offers apply to a 100,000 won purchase.
The campaign covers 78 types of certificates issued by Seoul and its 25 districts, including older and newer versions, meaning residents can also receive the additional cashback when spending certificates they already own.
The total cashback rate will vary by certificate, ranging from 5 percent for those without existing benefits to 7 percent for metropolitan and Jung District certificates and as much as 10 percent for several district-issued vouchers.
No separate application is required, and cashback will be credited automatically in the form of gift certificates.
Cashback for purchases made from Oct. 29-31 will be issued Nov. 20, while payments made from Nov. 1-15 will be reimbursed Dec. 20, subject to available funding.
The certificates can be purchased and used through the Seoul Pay Plus app at about 480,000 participating businesses across the city, including neighborhood supermarkets, restaurants and traditional markets.
Monthly purchases are capped at 500,000 won per person, with a maximum holding limit of 1.5 million won.
“We hope the additional 5 percent cashback on Seoul Love Gift Certificates, offered in conjunction with Korea Grand Festival, will expand consumer benefits and help small businesses increase sales,” said Park Kyung-hwan, head of Seoul Metropolitan Government’s Civil Affairs and Labor Bureau.
“We will continue to pursue policies that citizens and small business owners can feel the benefits of, bringing vitality to the local economy.”
This article was published with the assistance of generative AI and edited by The Korea Times.