Korea Sale FESTA Deemed a Success This Year

The Trade Ministry revealed this week that card spending made during a massive nationwide annual shopping festival earlier this month rose 6.3 percent from a year earlier.

According to the Ministry of Trade, Industry, and Energy, card spending amounted to 37.4 trillion won (US$33.5 billion) in the November 1-15 period, when the country held the annual Korea Sale FESTA.

The ministry added that the shopping festival involving major retailers, manufacturers, and traditional markets drew a total of 1,784 companies, more than doubling from last year’s participants.

Vice Trade Minister Park Jin-kyu said at a press briefing that “the festival helped boost domestic demand and revive the regional economies.”

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