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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Starbucks Korea will temporarily suspend the sale of certain gift cards ahead of its upcoming “no-conditions full refund” policy, aiming to prevent misuse and arbitrage.
The company announced that from May 28 to June 14, it will halt sales of anonymous physical Starbucks cards and restrict the distribution of e-gift card vouchers across online platforms. In particular, KRW 100,000 e-gift cards will be completely suspended, while lower denominations ranging from KRW 10,000 to KRW 70,000 will be offered on a limited basis depending on the platform.
The move comes amid a surge in so-called “card arbitrage” activities, where individuals purchase discounted gift cards from secondary marketplaces and redeem them at face value for profit under the temporary refund policy.
Previously, Starbucks required customers to use at least 60% of a card’s value before requesting a refund. However, following the recent controversy surrounding its “Tank Day” campaign and rising consumer dissatisfaction, the company announced it would allow full refunds regardless of usage between June 1 and June 14.
Starbucks said the temporary sales suspension is intended to maintain fairness and prevent abuse of the refund system during the limited-time policy period.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
