Gunsan Love Gift Certificate
Gunsan issues a city gift certificate that works only at local shops. Residents buy it in paper, card, or mobile form at a 10% discount, up to 700,000 won a month. The city plans to issue 500.2 billion won of certificates in 2026. The program started in 2018 and redeems through local banks and credit unions.
Gunsan Love Gift Certificate is a large, long-running Korean municipal currency with the biggest 2026 issuance receipt in its class (500.2 billion won), but it shares the class ceiling: won-pegged, subsidy-driven, city-controlled.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x2.0
Single municipal issuer, debt-free prepaid conversion of won. Discount incentives are set by city budget decisions, not by any real-economy rule. Redemption gives partial two-way elasticity.
Spending Power Stability2x2.0
Pegged 1:1 to the Korean won, so it imports won inflation. No stability mechanism of its own beyond the purchase discount.
Fiat Independence & Interoperability2x1.0
Fully fiat-denominated and fiat-funded. The 10% discount depends on national and city subsidy budgets.
Traction2x4.0
Active and expanding: 2026 issuance raised from 400 billion to 500.2 billion won, the largest fetched scale receipt in the Korean municipal class. Running since September 2018 across paper, card, and mobile with a 700,000 won monthly cap. April 2026 campaign lifted the discount to 13%.
Sovereignty1.0
City-controlled and custodial. The city or a change of national subsidy policy can end it unilaterally.
Governance2.0
Municipal administration decides terms. Changes are published but residents have no formal governance role.
Resilience2.0
Survived subsidy-policy swings since 2018, but the discount model depends on annual budget allocations.
Inclusivity3.0
Open to all residents. Paper certificates keep seniors included; app and card forms need light onboarding.