Lee Gang-seop, Chief of the Ministry of Government Legislation, Joins Korea Sale Festa

Purchase Items at Stores Participating in Kosepe within Sejong Area

Lee Kang-seop, Director of the Ministry of Government Legislation, making a payment at a store participating in the Korea Sale Festa event

[Asia Economy Reporter Moon Chaeseok] The Ministry of Government Legislation announced on the 2nd that Director Lee Gangseop participated in the '2020 Korea Sale Festa'.

Director Lee visited stores participating in the Kosepe event within Sejong City and purchased goods.

This was to join in spreading the consumption culture through Kosepe.

Director Lee said, "The Ministry of Government Legislation will do its best to ensure that South Korea's economy, which is rebounding even amid the COVID-19 crisis, can be revitalized through active legislative support."

About 1,600 companies are participating in 'Kosepe', Korea's representative shopping event, held from the 1st to the 15th. For manufacturers, 971 companies are participating, three times more than last year, marking the largest scale ever.

Earlier, the Bank of Korea announced on the 27th that the real Gross Domestic Product (GDP) growth rate for the third quarter (July-September) recorded 1.9%, stating that "private consumption decreased by 0.1% compared to the second quarter."

This is due to the resurgence of COVID-19 mainly in Seoul and the metropolitan area since mid-August, leading to social distancing level 2.5 and other quarantine measures, which caused consumption to shrink.

For this reason, the government expects Kosepe to act as a momentum for revitalizing domestic demand in the fourth quarter.

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