On the 1st, Vice Minister Noh Yong-seok of the Ministry of SMEs and Startups held a meeting with the National Merchants Association and announced a plan to limit the criteria for Onnuri gift certificate merchants to small businesses with annual sales of 3 billion won or less.
The Onnuri gift certificate system was introduced to support increased sales for vulnerable businesses such as traditional markets and shopping districts. Until now, there has been no revenue cap for merchants, allowing even some large supermarkets and hospitals to benefit.
In response, the Ministry of SMEs and Startups prepared a plan to limit the Onnuri gift certificate merchants to those with annual sales of 3 billion won or less to focus support on small businesses that genuinely need help. The 3 billion won limit is applied consistently with the standards set by the Ministry of the Interior and Safety's local love gift certificate program and the Financial Services Commission's preferential fee rates for small and micro merchant cards to avoid confusion in the market.
The Ministry of SMEs and Startups plans to swiftly prepare the amendment to the 'Special Act on Promoting Traditional Markets and Shopping Districts,' which includes the reform plan established at this meeting.
Vice Minister Noh Yong-seok said, "This reform has created an opportunity for the Onnuri gift certificate to contribute even more to the revitalization of small businesses and vulnerable areas," adding, "We will continue to work closely with the National Merchants Association to promote the Onnuri gift certificate and eradicate unfair distribution."