S. Korea to hold nationwide shopping festival to boost consumption
  • 4 years ago
홍남기 "대한민국 동행세일 6월 26일부터 2주간 개최"

As part of the country's plan to support industries battered by the pandemic, the South Korean government will be holding a two-week long sale festa nationwide to revitalize consumption.
Kim Dami has more.
To boost sluggish consumer spending, South Korea will hold a nationwide shopping festival for two weeks at the end of June.
Finance minister Hong Nam-ki said Thursday there'll be a variety of special sales online and discount coupons for use at small vendors and traditional markets.
"We expect this will help lift the burden on big and small distributors as well as local SMEs and small business owners who are struggling due to the pandemic."
And to support local auto parts firms, the government will set up a guarantee fund worth more than 4-hundred million U.S. dollars to prop up their sales.
"The government will protect the auto industry by supporting those with great technical capability but who struggle to thrive because their low credit rating prevents them from borrowing."
And to help carmakers, the government will buy around 9-thousand-5-hundred vehicles for its own use earlier than planned this year.
For the shipbuilding industry, the government will upgrade some 30 older vessels into eco-friendly ones.
They haven't forgotten sports either.
Loans for sports-related businesses will be expanded by around 16 million U.S. dollars.
The finance minister said he will announce plans early next month for revitalizing exports, including quarantine kits, in the upcoming policy direction for the second half of the year.
Kim Dami, Arirang News.
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