In the future, local governments and others will be required to receive national support when issuing local love gift certificates.
The Ministry of the Interior and Safety announced on the 4th that a revision bill containing this content, titled 'Act on Activation of Local Love Gift Certificates,' was passed at a plenary session of the National Assembly.
This revision bill aims to mandate administrative and financial support necessary for the issuance and operation of local love gift certificates by the state and local governments. It is making obligatory what has previously been done at discretion.
In addition, a provision will be newly established requiring the Minister to receive annual subsidy budget applications necessary for the operation of local love gift certificates from each local government. Upon receiving the applications from local governments, the Minister is required to reflect them in the budget request. However, adjustments can be made based on considerations such as financial capacity.
Moreover, the Minister must establish a detailed implementation plan for the activation of local love gift certificates every five years. Additionally, a utilization survey must be conducted within three years.
Minister Yoon Ho-jung said, "Local love gift certificates are extremely important and effective policies in supporting local small businesses and revitalizing alley commercial districts," adding, "We will actively promote comprehensive support and various activation measures so that local love gift certificates can play a pivotal role in revitalizing the local economy."