The Ministry of Small and Medium Enterprises and Startups announced on the 8th that the Donghaeng Festival recorded direct sales of 612.8 billion won through online and offline channels in December last year. After concluding three sessions of the 2024 Donghaeng Festival in December, following May and September, it achieved total sales of 4.5 trillion won.
The Donghaeng Festival is the largest event in South Korea for promoting the consumption of products from small and medium enterprises and small business operators, hosted by the Ministry of Small and Medium Enterprises and Startups.
The December Donghaeng Festival saw online sales of 535.9 billion won through special promotions in online channels like Naver Shopping and 11th Street, as well as offline sales of 76.9 billion won from regional special sales in local small and medium enterprises agencies and at Shinsegae and Hyundai department stores. Additionally, sales of Onnuri gift certificates amounted to 174.4 billion won, while regional love gift certificates contributed 21.7 billion won, indirectly aiding sales.
The December festival also served as an event concluding the journey of 2024, supporting various promotions including exclusive exhibitions and live commerce centered around 100 participating companies from the May and September Donghaeng Festivals.
Participating corporation Somssi Cooperative sold 'Tianmimi Hong Kong-style tomato tangmyeon meal kits' through the exhibition, generating approximately 250 million won in sales. This represents a 25% increase compared to the same period last year, with the company noting that the Donghaeng Festival significantly helped with product sales and promotions.
Sunghwa Food, which sells Hanip Dakgalbi products, noted that sales in December increased 17-fold (from 700,000 won to 12 million won) compared to the same period last year, providing a major opportunity for corporate growth.
Additionally, the December Donghaeng Festival conducted various sharing events and regional special sales across the country, with 'coexistence' and 'sharing' as its key concepts.
Notably, the 2024 Donghaeng Festival held its opening event overseas for the first time (September Donghaeng Festival, Hanoi, Vietnam), showcasing outstanding products to overseas buyers and consumers through export consultations and pop-up stores, laying the groundwork for small business operators to expand their overseas market.
Wonyoung Jun, director of the Small Business Policy Office at the Ministry of Small and Medium Enterprises and Startups, said, 'Through the December Donghaeng Festival, we have been able to successfully wrap up our journey alongside small business operators for the year 2024,' adding, 'We will strive to promote economic vitality and support local small businesses through the Donghaeng Festival in 2025.'
Meanwhile, the Ministry of Small and Medium Enterprises and Startups will hold the 'Donghaeng Awards' on the 9th at the LW Convention Center for participating corporations in the December Donghaeng Festival. Ten companies selected through evaluations, including customer evaluation groups, will receive the Donghaeng trophy, and 25 participating corporations will also receive training from online marketing experts and consultations on accounting, tax, marketing, and specialized MD.