[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 28th that it will jointly promote the 'Korea Together Sale' with related ministries.
The plan to promote the Korea Together Sale was confirmed during the 5th Emergency Economic Central Countermeasures Headquarters meeting held at the Government Seoul Office on the same day. The Korea Together Sale will be held from June 26 to July 12 this year.
It aims to create a nationwide consumption boom through simultaneous discounts by large and small-to-medium enterprises, special events, regional on-site events, and linked events such as dining out and travel.
The promotion direction of the Korea Together Sale is 'voluntary discounts by large companies + sales support for small and medium enterprises.' For small and medium enterprises, participation will be encouraged through support for marketing costs such as traditional market prize draws and sales events, and up to 40% online discounts for SMEs and small business owners.
For large companies, the plan is to encourage discount event planning by expanding the budget items for rebates on high-efficiency home appliances such as kimchi refrigerators and easing the promotional cost burden on distribution companies.
About 2,000 companies, traditional markets, and small business owners will participate in the Korea Together Sale. Marketing costs such as prize draws, sales events, and performances will be supported at an average of 40 million KRW per location for 633 traditional markets and shopping districts nationwide.
To encourage participation in discount events by large-scale distributors such as department stores and large marts, the obligation to bear more than 50% of promotional event costs will be eased. The 'voluntary participation' of suppliers will be broadly recognized.
In the agriculture and livestock sector, support will be provided for programming costs of agricultural product sales programs on public home shopping and reduction of producer and seller commissions (from 20% to 8% of sales amount).
During the Korea Together Sale period, the government has prepared about four regional citizen participation on-site events. Live streaming of on-site events through online platforms will be promoted. Events such as giveaways of local love gift certificates will also be held through a lottery upon visiting and certifying attendance at on-site events.
On June 2 this year, local governments to host regional events were selected, and a 'Korea Together Sale Preparation Committee' including the relevant local governments will be newly established and operated under the chairmanship of the Deputy Minister of SMEs and Startups. In early July, a special 'untact' (non-face-to-face) event linked to an online platform will be held at Sungnyemun in Seoul. The event will include an inauguration ceremony, performances, and real-time online sales exhibitions of products from SMEs and small business owners.
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