Purpose: This study conducted a comparative analysis of three government- supported gift certificate systems in Korea—Onnuri Gift Certificate, Local Gift Certificate, and Zero Pay—focusing on their legal bases, issuing authorities, distribution structures, merchant networks, and policy objectives, to identify their distinctive features and policy implications.Research design, data, and methodology: A comparative institutional approach was employed, drawing on secondary sources including prior studies, government reports, official statistics, legal documents, and operational guidelines. These materials were examined to systematically compare the institutional frameworks and operational characteristics of the three systems.Results: The Onnuri Gift Certificate, with its network concentrated on traditional markets, effectively supported local small businesses but had limited usability. The Local Gift Certificate promoted regional economic circulation through a broader merchant base, yet imposed fiscal burdens on local governments. Zero Pay, as an innovative payment platform, lowered transaction fees for small merchants and integrated well with other government support programs, but functioned more as a payment system than as a conventional gift certificate.Implications: Effective policy design for government-supported gift certificates requires alignment with each system’s objectives and regional context. Key policy challenges include preventing digital-era fraud, enhancing inter-system interoperability, and safeguarding the fiscal sustainability of local governments.
Kim et al. (Sun,) studied this question.