"3 Billion Won Worth of Yeongyang Rice Cakes Sold" Donghaeng Festival Sells 19 Billion on First Day... Extension Announced (Summary)

'7 Days of Donghaeng Festival' First Day Online Sales Results Revealed
2.2 Times Increase Compared to Last Year... Some Events Canceled Due to Typhoon
Some Online Sales Event Period Extended Until the 16th

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The government announced that on the first day of the '7-Day Together Festival' (hereinafter referred to as the Together Festival), it achieved total sales of over 19 billion KRW through online sales. Additionally, it decided to extend some of the festival's schedules, originally set to end on the 7th, until as late as the 16th.

The Ministry of SMEs and Startups announced on the 5th that on the first day of the Together Festival, which began on the 1st, total sales of 19.027 billion KRW were achieved in one day through online special exhibitions, TV home shopping, and live commerce. This result is 2.2 times the sales of 8.661 billion KRW recorded on the first day (June 24) of last year's event. Compared to last year's average daily sales of 6.6 billion KRW, this represents a 190% increase.

Sales by distribution channel were ▲online special exhibitions 7.572 billion KRW ▲TV home shopping and T-commerce 11.123 billion KRW ▲live commerce 332 million KRW.

Currently, about 6,000 products from small and medium-sized enterprises and small business owners are being sold through online special exhibitions on 62 shopping malls including Gmarket and Coupang. On the Wemakeprice Together Festival special exhibition, about 1,300 meal kit products from Company A were sold on the first day, recording approximately 20 million KRW in orders. On Public Home Shopping, 6,400 nutritional rice cakes were sold, achieving sales of 310 million KRW in just one day.

Massage devices broadcasted through Kakao Shopping Live were promoted to about 93,000 viewers and achieved sales of approximately 8 million KRW. On Baedal Minjok live commerce, a fresh shrimp set sold for about 6 million KRW, and on Public Live Commerce, a dried yellow corvina set product generated 9 million KRW in sales during a one-hour broadcast.

Choi Won-young, Director of Global Growth Policy at the Ministry of SMEs and Startups, is announcing the results of the "7-Day Companion Festival" on the 5th at the Seoul Government Complex Annex in Gwanghwamun, Seoul.

Through sales events at seven global shopping malls participating in the Together Festival for the first time this year, sales of approximately 190 million KRW were achieved, expanding overseas sales channels.

Offline sales on the first day of the event were recorded at 62 million KRW. This figure represents the results of special sales events held by the Ministry of SMEs and Startups in cooperation with local governments and Incheon Airport duty-free shops. Sales from large supermarkets, shopping malls, and department stores are excluded. According to the Ministry, it is difficult to accurately grasp the sales performance of private companies that voluntarily participate in the Together Festival as their sales figures are considered trade secrets.

Some offline events were canceled due to safety concerns following the northward approach of Typhoon Hin Nam No. Choi Won-young, Director of Global Growth Policy at the Ministry of SMEs and Startups, explained, "The special sales events in the Busan, Ulsan, and Gyeongnam regions planned for the weekend were canceled due to safety concerns," adding, "The decision on whether to hold the event in Gwangju will be made after monitoring the situation this morning."

Originally, the Together Festival was scheduled to end on the 7th, but by extending the period, discount events will be held at traditional markets and some distribution platforms until the end of the Chuseok holiday. Traditional markets will continue until the 12th, and some private and public online special exhibitions will be extended until as late as the 16th.

Director Choi said, "Considering the damage caused by recent heavy rains and concerns about Typhoon Hin Nam No, there were many requests to continue the event through the Chuseok holiday," adding, "We plan to review on-site opinions and take measures to maintain the Together Festival atmosphere through the Chuseok holiday."

Lee Young, Minister of SMEs and Startups, stated, "The Together Festival is providing great vitality to traditional market merchants, small business owners, and SMEs, so we decided to extend traditional market events and online and offline special exhibitions."

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