Government Desperately Needs Domestic Demand Revival... "'Kosepe' Sparks Economic Recovery"

The man in the center is Sung Yun-mo, Minister of Trade, Industry and Energy. (Photo by Ministry of Trade, Industry and Energy)

[Asia Economy Reporter Moon Chaeseok] "We will do our utmost together with the industry to keep the Korea Sale Festa alive as a spark for economic recovery through consumption and domestic demand." (Sung Yun-mo, Minister of Trade, Industry and Energy)

The government is actively engaging in 'Kosepe marketing' to revive South Korea's domestic economy. A record-high 1,633 companies (as of 9 a.m. on the 30th) will participate in Kosepe, held from the 1st to the 15th of next month.

The government emphasized that consumer goods manufacturers such as automobile, clothing, home appliances, and cosmetics companies will participate more than twice as much as last year.

The event is planned not only to restore consumer sentiment and increase sales but also to create synergy between distribution and manufacturing industries.

To this end, discount planning events both online and offline by business type and industry, as well as various giveaways and prize events, will be held in the distribution and manufacturing sectors.

There are also plans to vigorously support overseas sales promotion events targeting global consumers to increase exports to new northern and southern markets.

Additionally, all available resources will be mobilized government-wide, including the resumption of consumer coupons, raising income deduction limits, reducing automobile acquisition tax, and easing the obligation for distribution industry to share promotional costs.

Minister Sung stated, "We will do our utmost together with the industry to keep Kosepe alive as a spark for economic recovery through consumption and domestic demand."

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