Daejeon Commercial District May Sales Increase Year-on-Year... First Time Since COVID-19

Graph comparing sales across all industries in the Daejeon area. The comparison criteria are the average daily sales scale (in 100 million KRW) compared to last month and the same period last year. Provided by Daejeon City.

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Last month, sales in the commercial districts of Daejeon increased compared to the same month last year. This marks the first rebound since the outbreak of the novel coronavirus disease (COVID-19) and is attributed to the effect of the government's emergency disaster relief fund payments.

According to Daejeon City on the 18th, an analysis of sales data by industry using KB credit card sales big data shows that total sales across all industries in Daejeon for May amounted to 749.6 billion KRW, a 4.1% increase from 720.4 billion KRW in May of last year.

Regarding sales trends over time, sales, which had sharply declined due to COVID-19, recovered to last year's levels starting April 13, the date when the Daejeon-type emergency disaster relief fund was distributed. From the point when the national emergency disaster relief fund was paid on the 13th of last month, sales shifted to an increasing trend compared to the previous year, according to the city.

By industry last month, sales increased in 25 sectors including medical institutions and pharmaceuticals, food and beverages, supermarkets and convenience stores, retail stores, beauty services, and casual dining restaurants. Conversely, sales decreased compared to the previous year in 12 sectors such as entertainment, gas stations, electronics, and general restaurants.

By autonomous district, only Dong-gu recorded a decrease of 900 million KRW (1.0%) compared to the previous year, while the other four districts all showed increased sales.

Meanwhile, from the 13th to the 31st of last month, the consumption pattern of the national emergency disaster relief fund applied for by Daejeon citizens using KB cards was recorded with a total of 1.112 million transactions and a total spending amount of 31.13 billion KRW.

Kim Joo-i, Director of the Planning and Coordination Office of the city, stated, “It appears that both the Daejeon-type emergency disaster relief fund and the national emergency disaster relief fund stimulated consumption. The city plans to continuously monitor regional economic trends through periodic sales analyses.”

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