Ministry of Industry's Top Efficiency Rebate Program for Hit Products, Minister Personally Promotes

Visit to Yongsan Electron Land during Korea's Donghaeng Sale period for 3 days
Over 1 million applications after March 23... 150 billion KRW budget nearly exhausted

Sung Yoon-mo, Minister of Trade, Industry and Energy. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Moon Chaeseok] Sung Yun-mo, Minister of Trade, Industry and Energy, is directly promoting the Top-Performance Energy-Efficient Home Appliance Rebate Program. The program is a hit product introduced by the Ministry of Trade, Industry and Energy as part of efforts to revive domestic demand weakened by the COVID-19 pandemic.

On the 3rd, Minister Sung will appear on the live commerce online broadcast of the Korea Together Sale at Yongsan Electronics Land in Seoul. He will directly sell top-performance energy-efficient home appliances, for which the government is providing large-scale rebates to all citizens this year.

The live commerce event is a special Korea Together Sale event jointly organized by related government ministries, selling products from small and medium-sized enterprises through internet broadcasts over three days starting from the 1st.

Minister Sung will actively promote top-performance grade electric rice cookers made by domestic mid-sized companies through the broadcasting platform of the online shopping mall TMON.

He explains the program to consumers easily through the "1-2-3 Principle."

This principle means ▲10% rebate on purchase price ▲over 20% electricity savings (compared to grade 5) ▲up to 300,000 KRW rebate per person.

On the day, Minister Sung will also tour the sales sites of various top-performance energy-efficient home appliances made by domestic small and mid-sized companies, including kimchi refrigerators, water purifiers with hot and cold water, and dehumidifiers.

He will directly check consumer demand on-site for the government's top-performance energy-efficient home appliance rebate program.

Minister Sung emphasized, "The program promotes consumption of domestic home appliances and contributes to the overall recovery of the manufacturing industry. At the national level, it also saves energy through the spread of high-efficiency products."

He explained that, thanks to active support from the public, the number of rebate applications has already surpassed one million since the program started on March 23, and the first supplementary budget of 150 billion KRW has almost been exhausted.

Accordingly, Minister Sung added that the Ministry of Trade, Industry and Energy has included an additional 300 billion KRW in the third supplementary budget proposal, which is awaiting parliamentary review.

He stated, "We hope that demand for high-efficiency home appliances will continue to expand through large-scale distribution events such as this Korea Together Sale and the Korea Sale Festa in the second half of the year."