[Asia Economy Reporter Donghyun Choi] "I have also run a business, but for small business owners and small and medium enterprises (SMEs), it is more important to widely promote marketing and brand power to generate continuous sales rather than immediate sales growth."
On the 18th, Lee Young, Minister of SMEs and Startups, said at a pre-briefing for the '7-Day Together Festival' held at the Government Seoul Office, "While previous Together Sales events focused on price discount sales, this event is planned as a festival involving the entire nation."
In response to growing concerns about economic recession and consumption contraction due to high inflation, high interest rates, and high exchange rates, the Ministry of SMEs and Startups will hold a large-scale consumption event called the 'Together Festival' from the 1st to the 7th of next month for small businesses and SMEs. Now in its third year, the Together Festival is the largest domestic event promoting the consumption of products from SMEs and small business owners, involving domestic and international retailers, traditional markets, and shopping districts. While previous events focused mainly on online sales, this year it will be held as a nationwide festival with various special events and large-scale public participation activities.
This year, private sectors such as large corporations and venture companies will lead various win-win cooperation projects. Newly launched projects include package products combining hotels, resorts, and local specialties, a fashion show featuring SME clothing, and the release of Together Festival private brand (PB) products, all driven by the private sector.
Moving away from discount-centered sales, nationwide events will be held so that citizens can participate, enjoy, and join in win-win consumption. Special sales will be linked with local specialties, local attractions, and regional festivals, and live commerce events will visit different regions.
Additionally, many events that the entire nation can easily participate in will be held, such as a win-win consumption lottery (totaling 1.2 billion KRW) and certification visits to local landmarks like century-old stores. Various prizes, including Onnuri gift certificates and gift sets, will be distributed through lotteries.
Furthermore, the limit for Onnuri gift certificates will be expanded from 700,000 KRW to 1,000,000 KRW, and a card-type Onnuri gift certificate is planned to be launched by the end of this month. Special events for traditional markets, such as free delivery for online shopping and Zero Pay prize draws, will also be held. The card-type Onnuri gift certificate can be purchased up to a monthly limit of 1,000,000 KRW and offers a 10% discount.
During last year’s Together Festival, sales reached 118 billion KRW over 18 days. Regarding this year’s sales target, Minister Lee said, "Although the event period is shorter than last year, we plan to hold large-scale offline events and various promotions connecting domestic and overseas markets," adding, "We expect to surpass last year’s daily average sales of 6.6 billion KRW this time."
The event will include participation from eight department stores, twelve large marts, ten duty-free shops, and major public sales channels such as KTX Seoul Station.
The largest-ever special sales event will be held on domestic online shopping malls. Approximately 60 private shopping malls and 60 government and local government public online malls will host special sales events featuring about 5,000 SME and small business products. Simultaneously, seven global online shopping malls will hold special sales of about 1,000 SME products that can compete worldwide, actively supporting online exports.
Singer Jang Yoon-jung and MC Do Kyung-wan, a married couple, will participate as promotional models for this Together Festival. From today until the 7th of next month, a 21-day 'Together Festival National Challenge' will also be held. Participation is possible by filming a dance to Jang Yoon-jung’s ‘Sallae Pallae Song’ and sharing it on social networking services (SNS). Participants in the challenge will be entered into a prize draw.
Minister Lee said, "This year’s event is planned as a structure where the private sector autonomously plans various win-win cooperation projects and the government supports them," adding, "I hope the event will continue for a longer period and spread positive influence throughout society."
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