8% standard incentive plus 12% chuseok cashback equals maximum 20% benefit
The Gwangju city government announced Monday that it has significantly expanded the budget for Gwangju Sarang Card, the city's local currency, to provide residents with more stable benefits starting in September.
Demand for the card has been consistently high, with monthly charging incentives regularly running out ahead of schedule. The city increased the related budget to reduce gaps in benefits and maintain stable card issuance.
The standard benefit rate and monthly cap remain unchanged. Cardholders receive an 8% incentive on the amount charged, up to a monthly limit of 500,000 won ($359) per person.
Alongside this, the city is launching a chuseok cashback event to stimulate spending and boost the local economy during the holiday season.
The event runs from Sept. 14 through Oct. 3. During that period, payments made at Gwangju Sarang Card-affiliated merchants using standard charged funds will earn a 12% cashback on the amount spent. The maximum cashback payout is 100,000 won per person, calculated on cumulative spending during the event period, and the promotion may end early if the budget runs out. The cashback also applies to payments made through the city's public-private partnership online food delivery platform.
Residents who use Gwangju Sarang Card in September can receive a combined benefit of up to 20% by stacking the standard 8% charging incentive with the 12% chuseok cashback.
"I hope this expanded support and the holiday event will ease the financial burden on residents amid high prices, while also channeling holiday spending back into local neighborhood businesses to invigorate the local economy," Mayor Park Gwan-yeol said.
Further details are available on the Gwangju city government website, and inquiries can be directed to the city's Local Economy Division.
pjh@heraldcorp.com
