City aims to ease spending burden and boost local economy before holiday
Yangju city announced Tuesday it will raise the top-up incentive rate for its Yangju Love gift vouchers from 8 percent to 10 percent ahead of the Chuseok holiday.
The move is intended to ease the financial burden on residents during the holiday season and encourage local spending to support neighborhood businesses and the broader local economy.
With the incentive rate raised to 10 percent, users will receive 1,000 won in bonus credit for every 10,000 won ($7) charged, with a maximum benefit of 30,000 won on a 300,000 won top-up.
The Yangju Love vouchers are accepted at more than 9,000 affiliated merchants across the city, including restaurants, supermarkets and hagwon.
The vouchers can be applied for and topped up through the Gyeonggi Province regional currency app. Participating merchants can be found through the app's store-locator function or on the Yangju city government website.
"I hope the increased incentive for the Yangju Love gift vouchers helps ease the financial burden on residents during the Chuseok holiday and also benefits local small business owners," Yangju Mayor Jeong Deok-yeong said.
pjh@heraldcorp.com
