The Ministry of SMEs and Startups reported on May 31 that the April Donghaeng Festival generated direct sales of 544.1 billion won. According to the ministry, this year's festival saw participation from a record 36,000 small and medium-sized enterprises (SMEs) and small businesses. Notably, 200 online and offline distribution channels operated discount promotions, resulting in a 178 billion won (3.4%) increase compared to last year's average sales of 526.3 billion won.
During the festival, the sales of Onnuri gift certificates rose by 48% from the previous year, reaching 511.8 billion won, thanks to temporary increases in discount rates for digital certificates. A key feature of this year's festival was the collaboration with local governments to link regional festivals with the Donghaeng Festival program, as well as expanded partnerships with large retail companies that have nationwide sales networks.
To support small businesses and boost consumer spending, the Minister and Vice Minister of SMEs and Startups visited major consumer sites across the country simultaneously during the festival. Thirteen regional SMEs and Startups offices operated a total of 71 specialized programs that reflected local characteristics and were linked to regional festivals.
A notable example is the Daegu-Gyeongbuk Regional SMEs and Startups Office's 'Daegu Handmade Burger Festival,' which identified ten young entrepreneurs in the local alley economy and promoted their local brand products. During the event, each business averaged 10 million won in sales, a 3.3-fold increase compared to the annual average daily sales of 1.5 million won. The event attracted around 12,000 visitors.
Additionally, in collaboration with local governments, a special 'Eomheungdo City Tour' was organized to coincide with the success of the film 'The King and the Man,' linking it to the Gunwi traditional market to encourage local consumption through lunch and market tours, revitalizing the local economy.
Looking ahead, the Ministry plans to institutionalize two annual consumer festivals, focusing on the 'April Donghaeng Festival' in the first half and the 'Korea Grand Festival,' a comprehensive government initiative to promote consumption, in the second half of the year.
Han Seong-sook, Minister of SMEs and Startups, stated, "In the second half of this year, we will further invigorate domestic consumption through the 'Korea Grand Festival,' which will consolidate the government's consumption promotion capabilities."
* This article has been translated by AI.
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