Finance Minister Koo Yun-cheol speaks a meeting with other ministers at government complex in Seoul on Aug. 7, 2025 in this photo provided by the finance ministry. (Yonhap)
SEOUL, Aug. 7 (Korea Bizwire) — The government on Thursday announced a series of measures aimed at boosting consumer sentiment in non-metropolitan regions as part of its broader economic stimulus plan.
Under the latest plan, consumers who spend 50,000 won (US$36) or more using credit cards at small businesses outside the capital area, such as traditional markets and restaurants, will be eligible to enter a lottery, the finance ministry said.
Ten first-prize winners will each receive gift certificates worth 20 million won. The government has allocated a total of 1 billion won in prize funds for 2,025 winners, added the ministry.
In addition, the existing 3,000-won discount coupons for art exhibitions will be expanded specifically for use in non-capital regions, the ministry said.
To promote tourism in areas with falling populations, the government will also double the maximum discount benefits for users of the government-issued tourism card, increasing the cap from the current 500,000 won to 1 million won.
The latest measures are aimed at revitalizing the economy in regions outside of Seoul and its surrounding area, where the recovery has lagged behind that of the capital region, despite a recent nationwide rebound in consumer sentiment.
In July, the government began distributing cash handouts dubbed “consumption coupons,” worth 150,000 won, with additional support allocated for low-income and single-parent households.
President Lee Jae Myung has pledged to promote balanced regional development, stating the government will increase budgetary support for regions outside the capital area.
“Domestic demand, which had long been sluggish, is finally regaining vitality thanks to efforts like consumption coupons,” Finance Minister Koo Yun-cheol said during a meeting with other ministers.
The minister, however, noted that structural constraints, such as population decline, have caused a slower recovery in non-capital areas, emphasizing the government’s commitment to continuing its efforts to keep the momentum.
Local business organizations welcomed the latest set of measures.
“The government measure, which comes amid challenges, including the rising number of small shops going out of business, will help domestic consumption recover and revitalize the regional economy,” the Federation of Korean Industries said in a statement.
The Korea Enterprises Federation said the measure will help local economies, especially amid growing trade uncertainties stemming from the U.S. tariff policy.
“We plan to proactively communicate and cooperate with the government, encouraging workers to spend their vacations and promoting domestic tourism so the latest measures can be fruitful,” the business lobby said.
The Korea Chamber of Commerce & Industry said it will roll out programs to revitalize domestic consumption in cooperation with its regional branches.
“The measure came in a timely manner to offer momentum for the recovery of the domestic economy amid signs of a rebound in consumption,” the chamber said.
(Yonhap)
