E-Mart and Lotte plan anniversary discounts

Korea’s two largest discount-store chains are rolling out big promotions to celebrate their anniversaries.

The nation’s largest discount-store chain, E-Mart, will hold the largest promotion for its 20th anniversary, discounting 3,000 items worth 200 billion won ($188 million) in November.

“We prepared the event to thank our customers who have loved E-Mart for the past 20 years so that it could become the No. 1 discount chain representing Korea,” said Heo In-cheol, E-Mart’s CEO.

“It will introduce fresh and processed foods, the biggest inflation burden, at the lowest prices. It is set to discount items purchased by 100,000 people per week up to 53 percent.

For processed food, No. 1 brand products such as Chilsung Cider, Orion’s Choco Pie and Nongshim’s Shin Ramyun will participate in the event and introduce their lowest prices for the products.

“For this event, we have prepared major fresh produce at up to 50 percent off through contract manufacturing and innovative distribution, and for processed food we have the most popular products at the lowest prices to reduce the inflation burden on consumers,” said Choi Sung-jae, general manager of the food division at E-Mart. Based on its overseas sourcing know-how, E-Mart will introduce popular foreign brands at unprecedented prices. Popular luxury cosmetics Lancome Genifique Essence (50 milliliters) will be 95,000 won.

It has also arranged domestic and foreign daily necessities at prices up to 38 percent lower.

“We will solely introduce popular brand products through parallel imports, and direct imports and key commodities such as detergent, diapers and toilet paper at the lowest possible prices,” said Lee Young-soo, head of the non-food products division at E-Mart.

Not to be outdone, Lotte Mart also plans a discount event, cutting prices of fresh food and LED TVs by up to 50 percent.

To celebrate its 34th anniversary, Lotte Shopping and Lotte Mart are holding a 34th Anniversary Event through next Wednesday, cutting the prices of major necessities by half at its stores nationwide.

Lotte Mart will offer 1,000 sale items, including fruit, galbi (barbecue meat), Irish salmon and LED TVs.

“Lotte Mart prepared twice as many items than that of its usual promotional events, based on those items that provide differentiated value by helping farmers and fishery households. We continue to develop and introduce such products and make efforts to lower the burden on households,” said Choi Chun-seok, product general manager at Lotte Mart.

From tomorrow through Nov. 10, Lotte Department Store and Shinsegae Department Store will also hold anniversary events.

BY KIM JUNG-YOON [kjy@joongang.co.kr]