Sales, sales and more sales as economic rebound sought

People shop at Lotte Department Store in central Seoul in June last year during the first season of the Korea Fashion Market. [KOREA FASHION INDUSTRY ASSOCIATION]

Summer is here, and so are the sales, as the government continues to promote events in an effort to pump up the economy and drive demand.

Inoculations may help, as more people are more confident about stepping outside.

First to begin is the Korea Companion Sale, a government-led event that runs from Thursday through July 11. It will be followed by Korea Fashion Market Season 3, a sales event running from Friday through July 1.

Korea Fashion Market Season 3, organized by the Ministry of Trade, Industry and Energy and Korea Fashion Industry Association, is being supported by department stores and online fashion malls, including Musinsa and W Concept.

A total of 193 brands took part in the event last June, which generated 3.8 billion won ($3.4 million) in sales. More than 300 brands participated in the second round of the event in October, which generated 16.4 billion won in sales.

Around 240 brands will be joining in the most recent iteration, with up to 90 percent discount offered.

Major department stores – Lotte Department Store, Shinsegae Department Store, Hyundai Department Store – and Naver, Musinsa and W Concept will be offering discounted casual and outdoor apparel.

During the Korea Companion Sale, promoted by the Ministry of SMEs and Startups, products will be promoted via numerous channels, including live commerce and home shopping.

Delivery apps will offer customers up to 30 percent discounts on regional specialties and hold live-commerce shows.

Lotte Mart plans to offer 30 percent discounts on food, like high quality Korean beef, while Lotte Department Store will offer up to 75 percent discounts on bedding products.

Lotte Shopping said it prepared a wide range of good suitable for younger Koreans.

Hyundai Department Store said it plans to give out around 3 billion won in points to customers that can be used at the department store.

BY JIN MIN-JI [jin.minji@joongang.co.kr]