The Seoul Metropolitan Government (SMG) will be issuing KRW 100 billion of prepaid gift certificates starting on Mon, Dec. 28, 2020 for urgent support to small businesses as part of its efforts to provide assistance to businesses affected by restricted business operations due to social distancing.
For the benefit of consumers, the gift certificates will be cut down from KRW 110,000 to KRW 100,000 and the discount rate will be raised from 9% to 10%. Gift certificates of KRW 100,000 in value can be purchased for just KRW 90,000, at a 10% discount, and prepaid gift certificates will offer bonus 10% discount at eligible businesses. Individuals can buy up to KRW 300,000 per month and private enterprises can buy up to KRW 10 million.
* What does prepaid mean?
Prepaid means to prepay for transactions at businesses affected by the restriction of business operations due to social distancing.
You can use the prepaid gift certificates at businesses that have decided to participate in this campaign among more than 200,000 businesses with restricted business operations due to social distancing, including ① karaokes, ② indoor sports facilities, ③ restaurants and cafes, ④ bathhouses, ⑤ Internet cafes, ⑥ barber shops and hair salons, and ⑦ study rooms and cafes.
To encourage citizens to make prepaid payments, the SMG changed the minimum payment amount of KRW 110,000 to KRW 100,000. If a consumer pays more than KRW 100,000 and applies for a refund of the balance, the balance will be returned without conditions. For instance, if a consumer buys two KRW 100,000 certificates and prepays KRW 150,000, a balance of KRW 45,000 will be returned, which is KRW 50,000 minus the SMG’s contribution of KRW 5,000 (10%).
The prepaid gift certificates are available on 15 apps (Bizplay Zero Pay, Check Pay, Money Tree, Fint, T-money Pay, Seulbaesaeng, 010 Zero Pay, All One Bank, To You Bank, Some Bank, IM Shop JB Bank, and KJ Bank). For urgent support for affected businesses, prepayment should be made by Thu, Jan. 31, 2021.
Inquiries: Dasan Call Center: +82-2-120
Zero Pay Information Center: +82-1670-0582
Q1. How can I search for the eligible businesses where I can use the prepaid gift certificates?
You can search for the eligible businesses via the Z-Map mobile application or on the Zero Pay mobile website (www.zeropaypoint.or.kr).
Q2. How can I buy one?
You can buy it through the same process as buying a Seoul Sarang gift certificate. You can buy a prepaid gift certificate on one of the 15 apps, including Bizplay Zero Pay and Check Pay, and the detailed process is described on the SMG website.
Q3. Until when is it valid?
The expiration date is Thu, Jan. 31, 2021. For a smooth process of prepayment, we have set the expiration date to be sooner than usual. Please make sure that you have checked where you can use it before buying your prepaid gift certificate. If you have prepaid for the gift certificate until Thu, Jan. 31, 2021, the amount of money can be used whenever you want to use it. (If a business has set the expiration date, it should be followed as such.)
Q4. Is it possible to prepay only KRW 50,000?
No, it isn’t. The minimum amount of prepayment is KRW 100,000. We ask for your understanding that we have set the lower limit for the prepayment as such, different from that for an ordinary payment.
Q5. What is the refund policy?
There are no conditions set for the refund policy. For an ordinary voucher, you should use at least 80% to get a refund (as of Dec. 2020). However, we didn’t set the conditions for the refund of the prepaid gift certificates, considering that we only sell them at KRW 100,000. The discount rate will be excluded when you get a refund.
Example 1. If you have used KRW 220,000 after you bought gift certificates at KRW 300,000,
=> You will get a refund of KRW 50,000, the balance of KRW 80,000 minus the discount rate of KRW 30,000.
Example 2. If you have used KRW 110,000 after you bought gift certificates at KRW 200,000,
=> You will get a refund of KRW 70,000, the balance of KRW 90,000 minus the discount rate of KRW 20,000.