Small Business Owners Achieve 1 Billion KRW in Sales by Third Round of Live Commerce

Ministry of SMEs and Startups 'Gachi Sapsida' Platform
Supporting Market Expansion for Small Business Cooperatives

Ministry of SMEs and Startups 'Let's Buy Value' Live Commerce

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 23rd that the 'Value Sapsida' live commerce event, participated by small business cooperatives, recorded sales of 1.03 billion KRW by its third session.

This live commerce was organized to support small business owners struggling due to the novel coronavirus disease (COVID-19) by helping them develop online sales channels. Since the 26th of last month, 17 small business cooperatives with excellent products have participated.

Among the participating cooperatives, some achieved sales on the day of the live commerce that exceeded 50% of their previous year's total sales, and some products sold out the initial stock prepared for the live commerce day, causing slight delivery delays, indicating strong customer response, according to the Ministry of SMEs and Startups.

Han Kyungsuk, director of the Namwon Gimbugak Cooperative, said, "The amount sold during this live commerce broadcast was 140 million KRW, which exceeds half of our cooperative's sales last year," adding, "We expect continuous reorder from customers secured through this live commerce."

This live commerce event is planned for a total of seven sessions. The Ministry of SMEs and Startups plans to conduct four more live commerce sessions by the 28th. The live commerce can be watched in real-time through the Value Sapsida platform and others.

In preparation for the Chuseok holiday peak season, the Ministry of SMEs and Startups has placed about 20 small business cooperatives in the 'Post Office Shopping Mall.' Additional support is being provided to help small business cooperative products develop sales channels, and the number of cooperatives entering online sales channels is expected to gradually increase.

No Gisu, head of the Regional Commercial District Division at the Ministry of SMEs and Startups, said, "We did not expect such a strong response to this event prepared to help small business cooperatives develop online sales channels," adding, "We will strive to achieve the desired results in the remaining four live commerce sessions."