Celebrating its 4th year this year, Korea’s largest SME owner product usage promotion event, the companion festival, will be held for 4 weeks from the 1st of next month. The Ministry of Small and Medium Enterprises and Startups set a sales target of 3 trillion earned and planned online and offline events.
On the 21st, the Minister of Small and Medium Enterprises, Lee Young, announced a promotion plan with SMEs and small businesses participating in the related festival, including the Daejeon Eunhaeng-dong Traders Association, the National Cafe Owners Cooperative, the Small Enterprises and Medium with Excellent Products. , and Itaewon Special Tourism Zone Association. The companion festival was promoted as a consumption campaign focused on boosting sales in order to revive shrinking consumer sentiment. This year, ‘Everyone gathers strength!’ campaign driven
The Ministry of Small and Medium Businesses and New Businesses focused on the regeneration of local commercial areas in connection with local events held throughout the country, considering that small business owners have in alley businesses, which focus on face-to-face services such as restaurants, shops , and accommodations. not yet recovered from difficulties in the age of COVID-19. The opening ceremony will be held in Daejeon on the 9th of next month, and the Paldo Festival will be held in conjunction with 30 regional festivals and events such as the Ulsan Whale Festival and the Hadong World Tea Expo.
Offline promotions such as flea markets, live trade visits, and Sodam Sanghoe pop-up shops will be held, and visitor giveaway events will be held at 1812 traditional markets and shops and 2262 centenary shops.
The Ministry of Small and Medium Enterprises and Start-ups will develop an online promotion of products for SMEs and small businesses. It sells a total of 19,000 products from 46 domestic online shopping malls, including Gmarket, 11th Street and Interpark, and 60 public shopping malls run by the government and local governments by issuing discount coupons of up to 50%, special time programmes, and special exhibitions. .
Online and offline (O2O) connection platform companies such as Baedal Minjok, Yogiyo, Kakao, and KT are supporting discount coupons and advertisements to help promote the sales of 4,000 small business stores experiencing difficulties in selling out- line. Celebrity live trade and home shopping of small and medium sized business products were also planned special broadcasts.
The Ministry of Small and Medium Businesses and Startups fixed the English name of the festival as ‘Buy K Festa’ from this year in order to link excellent products with foreign exports. It plans to develop an English (BI) brand image and promote it abroad. For three days from the 12th of next month, a promotional exhibition related to the Hallyu concert to be held in Japan will be held and marketing using local influencers will also be held. Promotions for outstanding products will also be held in duty-free stores and 10 global distribution platforms by region, including North America, China, Japan and ASEAN.
The Ministry of Small and Medium Businesses and New Businesses is promoting a campaign to encourage many economic entities to participate in the Festival. To reduce the burden of purchasing products for consumers, the monthly purchase limit for individual Onnuri gift certificates will be raised, and the purchase limit or discount rate will be raised for 13 regional currencies.
A Wishball event to promote the vitality of Itaewon’s commercial area will be held on the 12th of next month on Itaewon’s main street. During the Small and Medium Business Week, public participation programs such as sharing concerts and fairs are also implemented to raise the awareness and status of small and medium-sized enterprises led by the Korea Federation of Small and Medium Businesses. An announcement ceremony for the Republic of Korea will also be held, where all economic players announce their commitment to creating a growing Republic of Korea together in front of the public.
The Minister of Small and Medium Enterprises and New Businesses, Lee Young, said, “I hope that this companion festival will melt the frozen feeling of consumers and be an opportunity for the people to gather their strength for economic vitality.
Reporter Song Yun-seop sys@etnews.com
