1.45 Trillion KRW Sales from Ministry of SMEs and Startups Consumption Promotion Event... Yoon Says "Good Business"

Minister Lee Young of the Ministry of SMEs and Startups Reveals at Dinner Meeting
Hosting Donghaeng Festival and Win-Winter Festival
"Will Mobilize B2B and Overseas Buyers Next Year"

It has been revealed that small and medium-sized enterprises (SMEs) and small business owners generated a total sales amount of approximately 1.45 trillion KRW through consumer promotion events led by the Ministry of SMEs and Startups this year. In particular, the ‘Han-gyewool-ui Donghaeng Festival Win·Winter Festival,’ held to boost the economic vitality of small business owners, achieved sales of 950 billion KRW alone.

Minister Lee Young of the Ministry of SMEs and Startups (photo) stated at a year-end dinner with the press corps held on the 27th in Yeouido, Seoul, "The sales of Onnuri gift certificates at traditional markets, conducted as part of the Win·Winter Festival event, reached 500 billion KRW and were closed early, and an additional 450 billion KRW in sales were made both online and offline." He added, "When combined with the sales performance of the ‘7 Days of Donghaeng Festival’ held last September, the total sales from consumer promotion events this year exceed 1.45 trillion KRW."

The Win·Winter Festival, now in its fourth year, is an event designed to promote consumption and enhance the economic vitality of small business owners through online and offline promotional activities. From the 16th to the 25th of December, 215 online and offline channels and 47,000 companies participated. For Onnuri gift certificates, a 10% discount was offered throughout December, and the purchase limit per person was raised to a maximum of 1 million KRW depending on the type.

Minister Lee said, "I was worried whether products from small business owners and SMEs would sell well due to the poor economy, but we exceeded the target of 800 billion KRW." He shared an anecdote, "After the Cabinet meeting, President Yoon Suk-yeol heard this news and encouraged us by saying ‘You are doing well in business,’ and Seoul Mayor Oh Se-hoon said, ‘Next time, I will provide Gwanghwamun Square.’"

The minister plans to increase consumer promotion events to three times next year and aims to promote B2B (business-to-business) sales by supplying SMEs’ holiday products to other companies during the holiday season. Recently, the Ministry of SMEs and Startups established a Consumer Promotion General Team (tentative name) dedicated to these tasks through organizational restructuring. Minister Lee stated, "We will further increase sales by mobilizing overseas buyers, overseas online shopping malls, and affiliated organizations of the Ministry of SMEs and Startups."

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