The Ministry of SMEs and Startups launched a full-court press to boost domestic demand, checking preparations for the nationwide consumer promotion event, the "Korea Grand Festival."
According to the Ministry of SMEs and Startups (MSS) on the 27th, the Korea Grand Festival is a national discount campaign involving 10 ministries and 37,000 companies. It is a large-scale event encompassing all sectors, including gift certificates, travel, and culture.
First Vice Minister Noh Yong-seok of the Ministry of SMEs and Startups (MSS) discussed the Korea Grand Festival plan and the preparation status of region-specific consumption promotion programs on the day with 13 regional Small and Medium Business Administrations and 11 public institutions nationwide.
The Ministry of SMEs and Startups (MSS) plans to focus policy capacity through this festival so that the consumption promotion campaign can take root as a sustainable consumption trend beyond a one-off event. To that end, it will push customized events and relay campaigns nationwide that reflect regional characteristics and demand, stimulating consumer sentiment and strengthening the momentum for domestic demand recovery.
First Vice Minister Noh Yong-seok said, "We hope the Korea Grand Festival will spread the warmth of consumption across the country and help local commercial districts regain vitality," adding, "The government will also actively support efforts to maximize the consumption-boosting effect."