A planned South Korea shopping festival in the fall is aimed at drawing tourists and bolstering lacklustre domestic consumption.
The Ministry of Trade, Industry and Energy has formed a joint task force with the Ministry of Culture, Sports and Tourism to create the massive shopping campaign, called “Korea Sale Festa”, scheduled from September 29 to October 31.
“The government consulted with major manufacturers in consumer electronics, clothing, cosmetics and food industries, and they were positive about offering discounts on various items,” the ministries say. “As Korea Sale Festa is prepared well in advance, more manufacturers are expected to participate.”
Each ministry held its own discount event last year as part of efforts to prop up the national economy, hit hard by the Middle East Respiratory Syndrome (MERS) outbreak, reports Korea Bizwire. The culture ministry initiated the “Korea Grand Sale” shopping festival from early September to mid-October, while the trade ministry’s nationwide shopping campaign, “Korea’s Black Friday”, was during the first two weeks of October.
As these campaigns were criticised for hasty preparations and limited participation by retailers, the government formed a joint task force with industry officials this year to negotiate with retailers and manufacturers and offer shoppers better deals.
The culture ministry plans to provide support by hosting cultural and entertainment events with K-pop stars, while the trade ministry will push for trade fairs and exhibitions to create a synergy effect.
