Every Fourth Sunday of the Month is 'Traditional Market Day'

Ministry of SMEs and Startups to Regularize Efforts to Revitalize Traditional Markets and Shopping Districts Affected by COVID-19

'Traditional Market Day' Event Guide Poster.
[Photo by Ministry of SMEs and Startups]

[Asia Economy Reporter Kim Jong-hwa] The Ministry of SMEs and Startups announced on the 21st that it will designate the fourth Sunday of every month as 'Traditional Market Day' to help traditional markets and shopping districts, which have been severely affected by COVID-19, regain vitality.

The Ministry introduced 'Traditional Market Day,' a consumption promotion event, to revitalize merchants facing a crisis due to a decrease in customers at traditional markets, which rely mainly on face-to-face transactions, amid the expansion of non-face-to-face transactions after COVID-19.

Considering that most local governments nationwide operate mandatory closure days for large supermarkets on the second and fourth weeks of each month, the fourth Sunday of every month was designated and will be operated as Traditional Market Day.

This year, October 24 and November 28 fall on Traditional Market Day. To establish Traditional Market Day, a receipt lottery event will be held for customers who purchase items at traditional markets on the day, and parking on roads around traditional markets will be allowed in cooperation with the National Police Agency and local governments.

Customers who purchase more than 30,000 KRW at traditional markets on Traditional Market Day can enter their purchase receipts through the traditional market event page 'Sijang愛' to participate in a lottery. Fifty winners will receive the latest wireless vacuum cleaners each month, and another fifty will receive mobile Onnuri gift certificates worth 50,000 KRW. More detailed application methods can be found on the Sijang愛 page.

The Ministry plans to regularize the event from next year after analyzing the results of the pilot operation of Traditional Market Day in October and November this year. On October's Traditional Market Day, joint marketing events such as visitor prize giveaways and distribution of shopping bags (eco-bags) will be held at Yeongdeok Traditional Market in Gyeongbuk, which suffered significant damage from a fire last September, to help overcome the fire damage.

Lee Jun-hee, Director of Traditional Market Development at the Ministry of SMEs and Startups, said, "Although various policies are being promoted to help traditional markets enter online platforms, digitalization of traditional markets has been slow due to aging merchants and difficulties adapting to changes. Therefore, we planned an on-site consumption promotion program." He added, "We are preparing traditional customer attraction programs for elderly merchants and customers who are vulnerable to online utilization, while accelerating the digitalization of traditional markets to actively respond to changes in the distribution environment."