Korea Sale Festa to deliver discounts, deals in November

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Korea Sale Festa to deliver discounts, deals in November

Published: 01 Nov. 2024, 14:06

People shop at Lotte Mart on Thursday as its sale event ″Thank You Week″ kicked off. [LOTTE SHOPPING]

The Korea Sale Festa, the country's largest annual sales event, will kick off next week, featuring significant discounts from automakers Hyundai and Kia.

Often compared to Black Friday in the United States, this year’s Festa will run from Nov. 9 to the end of the month, lasting 22 days — two days longer than last year.

A record number of 2,600 companies across the manufacturing, retail and service sectors will participate in this year’s event, according to the Ministry of Trade, Industry and Energy.

The participating corporations will offer significant discounts across a wide range of products in an effort to simulate local consumption.

“To invigorate the domestic economy, we will broaden discounts on durable goods such as cars and electronics, which are strong in exports, and extend these to the culture and leisure sectors as well,” said the ministry.

The Korea Sale Festa was first launched in 2015 as a response to economic challenges following the Middle East respiratory syndrome epidemic.

Both online and offline retailers have begun major sale events this week. Lotte launched its “Super L. Day,” running from Oct. 28 to Nov. 6, as well as its “Thank You Week” from Oct. 31 to Nov. 13, while Shinsegae’s “Suk Day” began on Friday and will run through Nov. 10.

Hypermarkets and mid-sized stores will offer discounts on seasonal items such as fruits and vegetables as well as kimchi ingredients.

Department stores are preparing a variety of special events, including pop-up stores and appreciation events, starting Nov. 15.

A poster promotes the Korea Sale Festa. [SAMSUNG ELECTRONICS]

Automakers and home appliance brands will expand their ranges of discounted products for this year's event. Hyundai announced discounts on 24 car models and Kia, eight models, while GM Korea will offer up to 15 percent off on select vehicles. Samsung Electronics and LG Electronics will apply discounts to 15 and 12 products, respectively.

E-commerce platforms, including Coupang, Naver and Market Kurly, as well as five convenience store chains — CU, GS25, 7-Eleven, Emart24 and CSPACE24 — will also join the event.

Discounts will extend into the culture and leisure sectors as well. Resort brands such as Hanwha Resorts and Sonohotel Resorts, along with amusement park Lotte World and educational brands, will participate for the first time.

The Festa’s opening ceremony will be held on Nov. 8 on Myeongdong Street in central Seoul, with skater Lee Sang-hwa and various people from the retail and government sectors in attendance.

BY WOO JI-WON [[email protected]]