Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.
Use 'em or lose 'em: Gov't vouchers expire on Nov. 30
Cards issued under the second phase of the government's consumption coupon program. Yonhap
By Kim Hyun-bin
The government is urging the public to use the remaining balance on state-issued consumption coupons before the program expires on Nov. 30, when all unused funds will be forfeited.
The Ministry of the Interior and Safety said the coupons from the first and second phases of the consumption coupon initiative can be used until midnight on Nov. 30, emphasizing that any unused amount will automatically expire.
Interior Minister Yun Ho-jung said the coupons have played a meaningful role in helping revive local economies. “Thanks to the active use of consumption coupons by citizens, neighborhood businesses have regained vitality,” he said. “For those who have not yet used their full coupon balance, please make sure to spend it before the deadline.”
The ministry said it has been notifying users of the approaching deadline via the National Secretary Service, text messages, mobile apps and websites, in cooperation with credit card companies and local governments.
As of midnight on Nov. 16, users had spent 8.8407 trillion won ($6 billion), amounting to 97.5 percent of the total 9.0688 trillion won distributed through credit and debit cards, according to the ministry.
The consumption coupon program was launched earlier this year as part of the government’s broader initiative to boost spending at small neighborhood businesses and support households as they face an increase in the cost of living.
The coupons, issued in two phases and distributed through credit and debit card companies, offered cashback-style benefits when users made purchases at designated local merchants. The ministry has said the program was designed to quickly inject funds into everyday economic activity, particularly in sectors hit hardest by sluggish domestic spending. The government has periodically reminded the public of usage deadlines, noting that the coupons cannot be refunded or carried over once the program ends.