Additional Discounts Linked to Top-Efficiency Home Appliance Rebate Program... Struggling to Boost Consumption

Ministry of Industry and Distribution·Manufacturing Sectors Actively Participate in 'Korea Together Sale'... Launching 'Cheer Up Korea!' Campaign

[Asia Economy Reporter Moon Chaeseok] The distribution and manufacturing industries are joining forces to hold events such as additional discounts, special points, and gift certificate giveaways linked to the Top Efficiency Home Appliance Rebate Program.

The Ministry of Trade, Industry and Energy (MOTIE) has prepared these events together with the industry and decided to actively participate in the consumption stimulation campaign. On the 10th, MOTIE and the industry discussed successful hosting plans for the Korea Together Sale at the meeting of the Korea Distribution Industry Association.

On this day, distribution associations and the industry agreed to actively participate in the Korea Together Sale, which will be held from the 26th of this month to the 12th of next month. During this period, they will also participate in the "Cheer Up Korea!" consumption stimulation campaign that MOTIE and the manufacturing and distribution industries have been conducting since early this month.

The Korea Together Sale is held to support large, medium, and small distribution companies, small and medium-sized enterprises, and small business owners who are struggling due to the novel coronavirus disease (COVID-19), and to revitalize the sluggish consumption.

The campaign is the result of continuous consultations since March between MOTIE and manufacturers and distributors in department stores, large marts, automobiles, home appliances, and other sectors to address industry difficulties caused by COVID-19 and find ways to stimulate consumption.

In addition, the industry will promote consumption stimulation through various events such as planned discounts and joint events.

The distribution and manufacturing industries will hold events such as additional discounts linked to the Top Efficiency Home Appliance Rebate Program.

To support sales channels in the fashion industry, MOTIE, the industry, the Korea Federation of Textile Industries, and the Korea Fashion Industry Association will hold the "Cheer Up Korea! Korea Fashion Market" from the 26th to the 28th, promoting special events at major department stores and online shopping malls.

The department store industry plans to offer special discounts on major brand season-off events, shoe fairs, hotel & home vacation exhibitions, the latest fashion and accessories, and premium cosmetics.

Large marts are planning regional win-win discount events on groceries, agricultural and marine products, daily necessities, sales of private brand products and excellent products from small and medium enterprises, and price sales based on prices from 15 years ago.

The online shopping industry plans to promote discount events by shopping mall, including daily special price products, time deals, special coupons, regional win-win Paldo product exhibitions, and half-price movie and video downloads in major categories such as fashion, beauty, food, and luxury goods.

The automobile industry is preparing special promotions such as special discounts on major models, customer participation events, and prize giveaways.

The home appliance industry plans to hold special exhibitions of hit products, prize events, maximum discount events on online malls, and special events for business customers who are small business owners.

The furniture industry will offer special discounts on large furniture such as sofas and beds, item-specific discounts on dining tables and living room cabinets, discounts on daily necessities, and special online discounts.

In addition to the Top Efficiency Home Appliance Rebate Program, the government is providing ▲ expanded income deduction rates for credit card usage (80% applied from April to July) ▲ increased income deduction limits for credit card usage (scope to be announced through tax law amendments) ▲ reduction of individual consumption tax on automobiles (from 5% to 3.5% from July 1 to December 31, as per enforcement decree amendments) ▲ relaxation of the obligation for distribution companies to share promotional costs to support suppliers in inventory clearance, among other measures.

Kim Yongrae, Director of the Industrial Innovation Growth Office at MOTIE, urged the industry, saying, "While promoting consumption stimulation events, please thoroughly comply with the 'social distancing in daily life' guidelines to prevent COVID-19, and ensure thorough quarantine management so that consumers can visit with peace of mind."

This content was produced with the assistance of AI translation services.