Lee visits Haengbokan department store in Seoul's Yangcheon-gu to inspect discount sale for SMEs and small business owners

About 40,000 companies from large conglomerates to small vendors taking part through Nov. 15

Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il observes a small business owners' live studio at the Korea Grand Festival event held at Haengbokan department store in Mokdong, Yangcheon-gu, Seoul, on Friday. [Ministry of Economy and Finance]
Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il observes a small business owners' live studio at the Korea Grand Festival event held at Haengbokan department store in Mokdong, Yangcheon-gu, Seoul, on Friday. [Ministry of Economy and Finance]

Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il visited Haengbokan department store in Seoul's Mokdong neighborhood on Friday to inspect the Korea Grand Festival discount event. Lee urged consumers to buy products from small and medium-sized enterprises and small business owners, saying the momentum from improving exports and investment must reach neighborhood commercial districts.

Lee toured the "Haengbokan Inventory Discount Sale" at the department store alongside Lee Byeong-gwon, second vice minister of SMEs and Startups. They examined clothing, household goods and other planned and surplus products on display and made purchases. They also encouraged the SMEs and small business owners participating in the event and listened to feedback from shoppers.

Haengbokan department store is a policy-designated retail space that supports small and medium-sized enterprises and small business owners who struggle to secure sales channels. The discount sale was held in conjunction with the Korea Grand Festival to give participating businesses a chance to clear inventory and raise awareness of their products among consumers.

"While our economy is building a foundation for recovery through recent improvements in exports and investment, it is most important that the warmth of that growth permeates every corner of neighborhood commercial districts and the everyday lives of our neighbors," Lee said. "I hope the kind of smart, supportive spending seen at Haengbokan's inventory discount sale will spread across the country and serve as a strong boost for small and medium-sized enterprises and small business owners."

Now in its second year, the Korea Grand Festival runs for 18 days from Oct. 29 through Nov. 15 at venues across the country. According to the Ministry of SMEs and Startups, about 40,000 companies — ranging from large conglomerates to small business owners — are taking part.


fact0514@heraldcorp.com