A state-led sales festival designed to boost spending amid the coronavirus outbreak was set to end Sunday, with major department stores posting an increase in revenue on high demand for luxury goods.
Homeplus is offering discounts of up to 40 percent at nationwide offline stores and at its online mall for products including automobile supplies, drying racks, umbrellas, household appliances and items for the upcoming rainy season until July 15.
Doosan Heavy Industries & Construction said Monday that a group led by Hana Financial Investment is the preferred bidder for a golf course it owns.
A sign on Lotte World Tower on Friday advertises a two-week national sales promotion that runs through July 12.
People line up in front of the Lotte Department Store in Nowon District, northern Seoul, Thursday to buy duty-free items in stock which were put to sales with up to 40 percent discount rate.
Customers shop at a discount store Thursday, before the start of the summer blowout sale that runs from Friday to July 1, which was planned by the government to help Korean retailers make up for losses from the coronavirus pandemic.
Lotte Duty Free and The Shilla Duty Free, the top two players by market size, will start unloading unsold duty-free inventory this week, while Lotte Mart is offering employees voluntary unpaid leave for the first time in its two-decades history.
Large discount retailers are rolling out massive promotions for the weekend in a bid to attract customers back after coronavirus cash steered them toward local shops and mom-and-pops.