Nationwide Consumer Festival Kicks Off: From Beef to Electronics, a Week of Deals Starts Friday

The highly anticipated nationwide consumer event, "Korea Grand Festival," kicks off on November 29th, offering a wide array of discounts on everything from beef and seafood to automobiles and electronics. With an expanded range of regional and local product discounts, consumers are set to benefit from a broader selection of deals on groceries and daily essentials.

Government Unveils Plans for the "Korea Grand Festival"

The government presented its plans for the "2nd Korea Grand Festival" at the Cabinet Meeting on November 27th. The event, set to run for 18 days from November 29th to December 15th, will see participation from over 40,000 businesses nationwide.

This year, the festival combines and expands upon existing consumer events such as the Donghaeng Festival and Korea Sale FESTA, providing a range of discounts not only from major retailers but also traditional markets and local businesses.

Food Discounts: Up to 50% Off on Beef and Seafood

The food discounts will commence a day prior to the main event, on November 28th. Premium Korean beef will be available at a 50% discount until November 8th at retailers nationwide, while key seafood items such as seaweed, shrimp paste, and sea salt will be offered at up to a 50% discount until November 29th.

Black Friday Deals: A Boost for Retailers and Consumers

As we approach the kimchi-making season, major grocery items such as cabbage, radish, chili peppers, garlic, and ginger will be discounted from November 29th to December 2nd. Over 300 retailers, including nationwide marts and regional agricultural cooperatives, will participate, offering discounts of up to 40%.

Large retailers like E-mart, Lotte Mart, and Homeplus, as well as corporate supermarkets (SSM), will join in on the commercialization, offering up to 50% discounts and 1+1 deals on agricultural, livestock, and processed food products, along with household goods.

The discounts will also extend to the automotive and electronics sectors. From November 1st, five domestic automakers—Hyundai, Kia, GM Korea, Renault Korea, and KG Mobility—will participate in the sales event, with Hyundai and Kia's certified pre-owned vehicles also included for the first time. Specific models and discount rates will be revealed on the event's launch date.

Samsung Electronics and LG Electronics will offer discounts on major appliances, while department stores will host special winter clothing events. Online shopping malls will provide discount coupons for small and medium-sized enterprises and small business products.

This wave of promotions is expected to drive late-session selling pressure, with consumers taking advantage of the deals to stock up on essential items and retailers aiming to boost their year-end sales.

Increased Discounts on Gift Cards: Boosting Local Economies and Traditional Markets

Enhanced Benefits for Consumers and Businesses

The discount rates for regional gift cards have been increased by 5 percentage points, offering even greater incentives for consumers. In the capital region, the discount will now be 13%, while non-capital areas will enjoy a 15% discount, and regions experiencing population decline will benefit from an impressive 17% discount.

For those residing in non-capital regions, this means a significant savings opportunity. With a 15% discount, a $100,000 won gift card can be purchased for just $85,000 won. However, it's important to note that actual purchase limits and sales schedules may vary depending on the local government.

Digital Onnu Gift Cards: A Boost for Traditional Markets

The digital Onnu gift cards will also see an increase in discounts, from the previous 7% to a substantial 10% for a period of five days, starting November 2nd and ending November 6th. During this time, consumers can purchase $100,000 won worth of goods for just $90,000 won, providing an additional incentive to visit traditional markets and Onnu gift card-accepting merchants.

Promoting Mutual Prosperity: The Sangsaeng Consumer Lottery

To further encourage consumer spending and support local businesses, a 'Sangsaeng Consumer Lottery' worth a total of $170 million won will be introduced. For every $30,000 won spent using digital Onnu gift cards, consumers will receive one entry ticket, with a maximum of ten tickets per person. Additionally, non-capital region purchases will receive double the entry tickets, further incentivizing spending in these areas.

Financial Incentives and Benefits for Consumers

### Late-session Selling Pressure:

The lucky draw has selected 5,600 winners, with 10 first-place winners receiving a substantial reward of 30 million won each in the form of digital Onnu Gift Cards. To participate, applicants must separately register through the Digital Onnu app.

### Commercialization and Local Initiatives:

Nationwide, 159 local commercial districts and traditional markets will host discount and coupon events. Notable local retailers such as Sung Sim Dang, Samjin Fish Cake, and Taegeuk Dang will participate, offering promotions in conjunction with surrounding businesses.

### Cultural Benefits and Tourism:

Beyond shopping, consumers can enjoy cultural facilities and attractions. During the event period, visitors can access free entry to the four grand palaces (Gyeongbokgung, Changdeokgung, Changgyeonggung, and Deoksugung), as well as Jongmyo Shrine and the Royal Tombs of the Joseon Dynasty. Exclusions apply, including regular holidays and Changdeokgung's Huwon (Secret Garden).

### Yield Rates and Variations:

It is essential to verify the event period before making purchases, as discount schedules and participating businesses vary by category. Additionally, the discount rates and purchase limits for local love gift certificates differ depending on the local government.