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  • Seoul Holds “ON Seoul Market” for 100 Days

  • Economy News SMG 0

    100 Days of ON Seoul Market

    The Seoul Metropolitan Government (SMG) will launch ON Seoul Market, an extensive 100-day online consumer spending campaign, to revive consumer spending that has been shrinking due to the prolonged COVID-19 pandemic. The goal of the market is to promote citizens’ consumer spending to increase sales for small and local businesses as well as revitalize the declining economy.
    The SMG will provide various services, such as consultation and financial support for seller fees, to an accumulated total of 10,000 excellent SMEs and startups to promote their businesses at 17 global online shopping sites, both domestic and international, such as Gmarket (Korea), Amazon (US), and Taobao (China).
    ON Seoul Market will open mid-October and introduce carefully selected items of small businesses at large online shopping malls. At the end of the year, a special exhibition will open with large-scale participation by over 5,000 businesses. One-day shipping for products available at traditional markets will be introduced at 65 traditional markets in 2020.
    10,000 coupons (each up to KRW 5,000) will be issued for consumers to receive additional discounts. Seoul Goods Exhibition will open a total of 135 times, including peak shopping seasons like China’s Singles’ Day (Nov. 11) and America’s Black Friday (Nov. 27).
    In December, products of 100 notable startups will be sold with discounts of up to 80%, and a portion of all proceeds will be donated to charity as part of the year-end Startup Boxing Day.
    Though local businesses have suffered and business transactions have weakened due to the prolonged COVID-19 crisis, the SMG stressed the formation of an infrastructure for consumers to easily and conveniently purchase excellent products by SMEs, startups, small businesses, and traditional markets during a time such as the present when non-contact online transactions continue to be made.
    ON Seoul Market will support 10,000 SMEs and startups with seller fees and be promoted on 17 online shopping platforms, construct an exclusive space for small and independent business at online shopping malls, operate a public procurement shopping mall, introduce online shopping services for traditional markets, and support the construction of a shopping mall for small but strong shops.
    Firstly, 10,000 competitive SMEs and independent businesses based in Seoul will be introduced on 17 platforms, such as domestic and international online shops, home shopping channels, and live commerce. Additional 10,000 discount coupons (each up to KRW 5,000) will be issued to consumers to support rational consumption.
    Secondly, an online public procurement shopping mall for independent businesses opened on Sep. 21 as an online market platform for independent business owners.
    Finally, non-contact online purchases will become available for traditional markets, which had mainly relied on in-person sales. The SMG will provide financial support for the introduction of online shopping services at 65 traditional markets and shopping streets. A hundred unique shops will be selected to launch their own online shop, and support for customized branding will be given to help shops secure a nationwide sales network.