Kim Jeong-kwan, the Minister of Trade, Industry and Energy, visited Musinsa and Olive Young in the Hongdae area of Seoul on November 2 to promote the expansion of Korean consumer goods, including K-beauty and K-fashion, into overseas markets. This year marks the first time a direct purchase event targeting international consumers has been organized, aiming to broaden the domestic shopping festival into the global market.
The Ministry of Trade announced that Minister Kim's visit supports promotional activities for domestic consumer goods companies participating in the K-Sale Festival. The K-Sale Festival is a large-scale discount event that is part of the national consumer festival, the Korea Grand Festival, involving major retailers such as hypermarkets, department stores, convenience stores, and online shopping malls, as well as automotive and electronics manufacturers.
During his visit, Minister Kim plans to purchase K-consumer goods directly from Musinsa and Olive Young and support their sales efforts. He will engage with foreign shoppers to gauge their reactions to K-beauty and K-fashion and listen to their concerns regarding counterfeit products. The event will also introduce how international consumers can purchase domestic products through the direct purchase event's website.
This year's K-Sale Festival runs from October 29 to November 15. Notably, the newly introduced K-Online Shopping Week features 14 direct purchase companies, including Musinsa, Olive Young, Amorepacific, and W Concept.
Participating companies will offer discounts on fashion, beauty, food, and K-pop merchandise, along with benefits such as reduced international shipping fees and incentives based on purchase amounts.
Earlier, the government announced on October 27 that approximately 40,000 companies would participate in the second Korea Grand Festival. The integrated consumer festival, introduced last year, reportedly led to a 2.3 percentage point increase in retail sales compared to individual events.
Large-scale discount events are also taking place in the automotive and electronics sectors. Five major automakers are offering discounts ranging from 1.5 million to over 10 million won on popular models, including mid-size sedans and SUVs. This year, used car dealerships are also participating. Electronics companies are conducting discount promotions on various products, including TVs, refrigerators, washing machines, smartphones, and PCs.
On the same day, a K-Sale Festival expansion ceremony was held at Hongdae Plaza, featuring influencers from five major regions as supporters and industry representatives introducing discount benefits through a talk show.
Minister Kim stated, "K-beauty and K-fashion products from our manufacturing sector are actively entering overseas markets through distribution platforms. The government will continue to expand support for the global dissemination of K-consumer goods."
* This article has been translated by AI.
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