"Sales Exceeding Targets" Emart Expands Fishermen Support Event with Ministry of Oceans and Fisheries

Over 15 Billion KRW in Sales at Korea's Genuine Seafood Festival from August to September... Surpassing Targets

[Asia Economy Reporter Minyoung Cha] Emart, in collaboration with the Ministry of Oceans and Fisheries, achieved success in the ‘Korea Genuine Seafood Festival,’ a win-win event to support fishing households held in August and September, and has decided to expand the sales volume for the third round in October.

According to Emart on the 7th, the Ministry of Oceans and Fisheries planned an additional three-week event from October 8 to 28 ahead of the originally scheduled third event from October 29 to November 11. Emart prepared a seafood discount fair worth 10 billion KRW during this period. The first week of the event will be held from October 8 to 14. Customers who verify their membership as Shinsegae Point members can purchase at a 20% discounted price, with benefits up to 10,000 KRW per person.

For the representative item, Jeoneo (gizzard shad) will be sold at 480 KRW, a 20% discount through the event. Jeoneo, which is in season during autumn, is facing an urgent need to secure sales channels due to the cancellation of various festivals and a bountiful catch. Emart has prepared 25 tons of Jeoneo for this event.

In addition, hairtail, abalone, shrimp, and blue crab, whose supply to restaurants has decreased due to reduced dining-out demand, can also be purchased at event prices upon Shinsegae Point membership verification. The 20% discounted prices are as follows: Jeju fresh hairtail extra-large (around 510g) 8,800 KRW, large (around 280g) 3,400 KRW, medium (around 220g) 2,600 KRW; live abalone special 5 pieces, large 7 pieces, medium 9 pieces priced at 13,600 KRW; domestic fresh shrimp 1,960 KRW per 100g; fresh blue crab 1,480 KRW per 100g.

The Korea Genuine Seafood Festival is a public-private cooperative win-win model where Emart purchases seafood and sells it to customers at discounted prices to secure sales channels, while the Ministry of Oceans and Fisheries supports the discount amount to the distributors. Emart sold 4.3 billion KRW worth of products in the first event in August and 11 billion KRW worth in the second event in September. Originally, the three events from August to November aimed for sales of 15 billion KRW, but after just two events, sales reached 15.3 billion KRW, exceeding the target.

Lee Sewoo, head of Emart’s seafood team, said, “Emart and the Ministry of Oceans and Fisheries joined hands to prepare this event to help fishing households struggling due to COVID-19,” adding, “We plan to continue efforts to expand sales channels for various seafood over the next three weeks.”

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