The Ministry of Trade, Industry and Energy and the Ministry of Culture, Sports and Tourism jointly formed a task force to create the massive shopping campaign, called “Korea Sale FESTA,” scheduled from Sept. 29 to Oct. 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 said in a release. “As Korea Sale FESTA is prepared well in advance, more manufacturers are expected to participate in this year’s event.”
The ministries separately held discount events last year as part of efforts to prop up the national economy hit hard by the Middle East Respiratory Syndrome outbreak last May.
The culture ministry initiated a shopping festival called “Korea Grand Sale” from early September to mid-October during which retailers knocked down prices to woo back both domestic consumers and Chinese travelers during the long-haul national holiday.
Less than a month later, the trade ministry held another nationwide shopping campaign, called “Korea’s Black Friday,” during the first two weeks of October, to stimulate stagnant domestic consumption.
As last year’s discount campaign was criticized 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 to attract foreign travelers, while the trade ministry will push for trade fairs and exhibitions to create a synergy effect.
The government will start promotion at home and abroad starting from late July and work with provincial governments and related organizations to link with local festivals during the period.
“We will combine shopping, tourism and culture to promote Korean culture and create a festive mood to bring in domestic and international consumers,” the ministries said.