The business sector has actively encouraged year-end gatherings such as end-of-year parties and the purchase of regional specialties to revive the frozen domestic market.
The Korea Chamber of Commerce and Industry sent an urgent letter on the 24th to 73 regional chambers of commerce nationwide and 25 district chambers of commerce in Seoul, announcing a joint campaign to revive the stagnant domestic market. Earlier, on the 17th, Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry, met with National Assembly Speaker Woo Won-sik and noted, "We will prepare various measures such as consumption promotion campaigns to invigorate the domestic market across the 73 chambers of commerce nationwide."
The Korea Chamber of Commerce and Industry also requested that major business events, such as the New Year meetings led by regional chambers of commerce, be concentrated in early January. The "1st Yeosu Day for Economic Leaders" event held by the Yeosu Chamber of Commerce on the 19th was attended by over 230 local business leaders, who received awards for their contributions to the development of the local economy, along with a declaration of new entrepreneurial spirit. The chamber plans to expand and conduct similar events across the nation.
The Korea Chamber of Commerce and Industry also urged that steps be taken, including conducting year-end and New Year gatherings, utilizing remaining annual leave, vacationing domestically during winter, encouraging the purchase of regional specialties, and buying and distributing Onnuri gift certificates.
Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry, held an executive end-of-year gathering on the 20th, urging employees to work harder during difficult times. Vice Chairman Park Il-jun also distributed "domestic revival coupons" to employees to encourage spending ahead of Christmas, and plans to listen to on-site opinions for revitalizing the domestic market by visiting alley businesses with employees next week.
Vice Chairman Park Il-jun said, "The difficulty for hundreds of thousands of small business owners continues due to the contraction in domestic consumption," adding, "We will gather ideas from the public to develop various measures to invigorate domestic consumption so that this campaign does not end up being a one-time event."