S. Korea resumes discount coupon scheme on dining, performances

The South Korean government will resume its discount coupon program on dining and cultural performances in May, which was temporarily suspended due to the aftermath of the COVID-19 pandemic.

The government announced the plan at the 15th Policy Review Meeting. Lee Eok-won, First Vice Minister for Economy and Finance, said the government will resume its online discount coupon program in May to keep the recovery of domestic demand going and minimize the damage suffered by the self-employed and those in the culture and art industry.

The dining coupons provide discounts to those who order from food delivery apps. Those who order food worth over 20,000 won at a time from food delivery apps will receive a refund of 10,000 won on their fourth order. Those who book for cultural performances on online platform will receive a discount of 8,000 won. Discounts are given twice a month per person, and up to four tickets per performance.

More details on the program will be announced by relevant ministries after preparations are done with credit card companies and online platforms.

First Vice Minister Lee predicted that consumer prices for April, which will be announced next week, to surpass the 2% mark. “Because the consumer prices were exceptionally low in the second quarter of last year due to COVID-19, they will temporarily top 2% this time due to the base effect,” Lee said. “The government will continue its efforts to stabilize consumer prices so that a temporary rise in prices does not lead to inflation expectations.”


Teuk-Gyo Koo kootg@donga.com