The Korea Sale Festa, South Korea’s equivalent of Black Friday (Image courtesy of Yonhap)
SEOUL, Nov. 8 (Korea Bizwire) — South Korea kicked off its largest-ever annual shopping event Friday amid efforts to boost private spending and promote tourism.
The Korea Sale Festa, South Korea’s equivalent of Black Friday, will be held both online and in stores nationwide through Nov. 30, with around 2,600 companies participating, according to the Ministry of Trade, Industry and Energy.
This year’s participation is the largest since the festival’s launch in 2016, surpassing 2,316 companies in 2023.
Major discount chains and department stores will offer bargains on fashion, food and other items, while also providing opportunities for small manufacturers and regional specialty producers to promote their products.
“We hope that the Korea Sale Festa, held on a record scale, serves as an opportunity to add vitality to domestic consumption,” Vice Industry Minister Park Sung-taek said in a statement.
Retail sales, a gauge of private spending, dropped 0.4 percent in September from a month before, following a 1.7 percent on-month growth in August, government data showed earlier.
(Yonhap)
