The second Korea Grand Festival, a government-led nationwide shopping event, will run for 18 days starting Oct. 29. About 40,000 companies will offer discounts of up to 50% on a range of products, with certified used cars from Hyundai Motor and Kia joining the event for the first time this year.
Government ministries reported the plan for the second festival at a Cabinet meeting held at the former presidential compound on Oct. 27, the Ministry of SMEs and Startups said on the 28th. The festival consolidates discount events previously run separately by individual ministries into a single national shopping event. This year's program brings together the SME ministry's Donghaeng Festival, the industry ministry's K-Sale Festa, the culture ministry's Lodging Sale Festa and the agriculture ministry's Korean beef sale.
Five automakers — Hyundai Motor, Kia, GM Korea, Renault Korea and KG Mobility — will discount popular models including midsize sedans and sport utility vehicles starting Nov. 1. Certified used cars from Hyundai Motor and Kia will take part in the festival for the first time this year. Discount terms and rates by model will be announced Nov. 1. Samsung Electronics, LG Electronics and Winix will hold discount events on major home appliances.
Large discount stores and super supermarkets, including E-Mart, Lotte Mart, Homeplus and Hanaro Mart, will offer discounts of up to 50% or buy-one-get-one deals. Five department store operators — Hyundai Department Store, Shinsegae, Lotte, Galleria and AK Plaza — will run seasonal sales centered on winter clothing along with special promotions for fashion brands.
For agricultural, livestock and fisheries products, ingredients for kimjang, the annual making of kimchi, will be sold at discounts of up to 40% at about 300 retailers nationwide from Oct. 29 through Dec. 2. Korean beef will be discounted by up to 50% from the 29th through Nov. 8, and mobile agricultural gift certificates will be sold at a 20% discount for two weeks starting Nov. 2.
Online shopping platforms will hold discount events aimed at boosting sales of products from small and medium-sized enterprises and small business owners. 11st, Gmarket and Grip will sell such products at a 20% discount through time deals and live commerce. NAVER will provide 20% discount coupons through its "Korea Grand Festival 100" promotion and sell products from small business owners at discounts of up to 60%. Post Office Shopping will run a one-day special sale offering a limited number of deeply discounted items on the opening day.
Discount rates on gift certificates will also rise during the festival. Local love gift certificates will be discounted by an additional 5 percentage points. The rate will rise to 13% from 8% in the greater Seoul area, to 15% from 10% outside the capital region and to 17% from 12% in areas with declining populations. The discount on digital Onnuri gift certificates will rise to 10% from 7% for five days starting Nov. 2.
Events to spur regional spending and purchases by foreign visitors are also planned. From Oct. 30 through Nov. 15, foreign tourists will be offered multilingual guidance and a 25% discount on portable Wi-Fi devices at major airports and ports. The four main royal palaces, Jongmyo Shrine and the Royal Tombs of the Joseon Dynasty will be open free of charge. Twenty-five duty-free shops nationwide will sell liquor and cosmetics at discounts of up to 25% and give out gifts based on purchase amounts.
The government will hold a combined opening ceremony on the 31st around the former Andong Station site in Andong, North Gyeongsang Province, featuring live commerce and a K-pop concert. Details of each event are available on the festival's website and Instagram account.