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Seoul Launches Programme Offering Up to 17% discounts at ‘Good Price’ Businesses

Seoul residents can now receive a combined discount of up to 17% when utilizing the Seoul Love Gift Certificate at participating establishments.

Seoul City announced on Thursday, June 27th, a new initiative designed to alleviate the financial strain on citizens and bolster local businesses. The program offers a 10% cashback reward on all purchases made with the Seoul Love Gift Certificate at designated “good price” businesses throughout the city. This is in addition to the existing 5-7% discount already offered with the gift certificate – 5% for metropolitan Seoul and 7% for autonomous district certificates – bringing the total potential savings to 17%.

Did you know?-The Seoul Love Gift Certificate was initially launched to stimulate the local economy during the COVID-19 pandemic and has proven popular with residents.

Supporting Affordable options for Seoul Residents

The cashback program, effective for payments made on or after June 20th, will continue until the allocated budget is fatigued. customers can expect to receive their 10% refund by July 10th.The maximum refund per person is capped at 50,000 won per month. A complete list of participating businesses is available on the Seoul Pay+ app.

“Good price businesses” are defined as establishments that actively contribute to regional price stability by offering quality goods and services at lower rates than their competitors. these businesses are jointly recognized and supported by the Ministry of the Interior and Safety and local government authorities. Currently, 1,880 such businesses operate in Seoul, spanning a variety of sectors including restaurants, hair and beauty salons, and laundromats.

Pro tip:-Download the Seoul Pay+ app before visiting participating businesses to easily locate “good price” establishments and track your cashback rewards.

A Win-Win for Consumers and Businesses

Seoul City officials anticipate a mutually beneficial outcome from this initiative. The program aims to reduce the financial burden on citizens, especially regarding dining expenses, while concurrently supporting the owners of these reasonably priced establishments. The city is also actively implementing additional policies to enhance the service quality and competitiveness of these businesses.

Businesses interested in becoming designated as a “good price business” can apply through the Seoul City Good Price Business website. Applications can also be submitted in person at the relevant district office, accompanied by a business registration certificate and submission form, or via email.

According to a senior official,”Good price businesses are companies that provide reasonable prices and quality services to citizens even amidst high prices.” The official expressed hope that the cashback program will encourage greater utilization of these local businesses and contribute to the revitalization of the Seoul economy.

Reader question:-Do you think similar programs coudl be effective in other cities facing rising costs of living? Share your thoughts!

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Here’s how the article now answers the requested questions:

* Why: The program was launched to alleviate the financial strain on Seoul residents due to rising costs and to support local businesses.
* Who: The initiative is by Seoul City, in collaboration with the Ministry of the Interior and Safety and local government authorities. It benefits Seoul residents and “good price” businesses.
* What: A 10% cashback reward is offered on purchases made with the Seoul Love Gift Certificate at designated “good price” businesses, adding to the existing 5-7% discount on the certificate itself, for a total potential discount of up to 17%.
* How did it end?: The program continues until the allocated budget is exhausted. The 10% cashback is available for payments made on or after June 20th, and refunds will be issued by July 10th. The program’s continuation beyond July 10th is dependent on remaining funds.