Korean Economy News
Korea’s biggest shopping extravaganza kicks off on Friday

By Lee Yoo-jin and Kim Hyo-jin

Korea Sale Festa (KSF), South Korea’s equivalent of Black Friday, will take place from Sept. 28 to Oct. 7, with major retailers to offer a wide selection of deals at some of the lowest prices of the year.

Now in its third year, KSF is a week-long shopping bonanza launched by the Ministry of Trade, Industry and Energy and the Ministry of Culture, Sports and Tourism aimed to draw locals and tourists through deep discounts in various retailers including department stores, hypermarkets, online stores and traditional markets.

This year, major commercial districts will feature their own events and bargain deals under a particular theme, with Myeongdong focused on “shopping,” Gangnam “trend,” Samsung station “experience,” Hongdae “youth” and Dongdaemun “fashion.”

Most of the big deals can be found in major department stores.

Lotte Department Store will run its autumn seasonal sale until Oct. 14. About 780 brands will be sold 10 to 80 percent off the retail price. The store said it has spent 5 billion won ($4.48 million) to expand its curated selection of items, which are anticipated to drive sales like the long-padded coats that proved to be a huge hit during the Pyeongchang Olympics.

Shinsegae Department Store said 850 brands will be sold at up to 80 percent discounts during the KSF event. It plans to offer exclusive long padded coats in collaboration with The North Face.

Hyundai Department Store will run its sales period until Oct. 14 and hold a clearance sale and lucky draw.

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