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Nationwide sale festival aimed at helping small, medium biz: finance minister

All News 19:25 July 03, 2020

SEOUL, July 3 (Yonhap) -- South Korea's nationwide sale festival is aimed at helping small and medium merchants overcome the fallout of the coronavirus pandemic, the country's top economic policymaker said Friday.

In a message posted on his Facebook account, Minister of Economy and Finance Hong Nam-ki urged consumers to take part in the ongoing "Korea Donghaeng Sale" campaign.

"The festival is a golden opportunity for people to buy products at affordable prices, as well as to help small and medium-sized businesses and traditional market merchants cope with the COVID-19 crisis," he said.

Hong also said that by purchasing goods and services, people can breathe new life into the domestic economy.

"The level of participation is the largest for such a campaign to date, with discounts of up to 87 percent, being very large compared to the past," the senior official said.

The infectious disease has led to a lot of people staying indoors and avoiding crowds, resulting in sharp drops in consumption across the board. This development is causing a slowdown in the national economy.

"Donghaeng" means "to go along together" in Korean, and it highlights the government's goal of helping everyone to get through the current challenges.

The festival, organized by the government, kicked off on June 26 and will run through July 12.

Minister of Economy and Finance Hong Nam-ki (C) acts as a show host at a promotional event to sell clothes by local designers in southeastern Seoul on July 2, 2020, in this photo provided by the ministry. (PHOTO NOT FOR SALE) (Yonhap)

yonngong@yna.co.kr
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