Industry ministry opens first overseas online shopping event for K-beauty, K-fashion

South Korea's industry ministry said Monday it had opened its first online shopping event aimed at overseas consumers, extending a domestic discount festival beyond Korea's borders for the first time.

The event, called K-Online Shopping Week and billed as "Do it like a Korean," widens the reach of the K-Sale Festival, which had until now been focused on the home market, according to the Ministry of Trade, Industry and Energy. It forms part of the second Korea Grand Festival, an 18-day national consumption campaign that runs from Oct. 29 to Nov. 15.

Trade Minister Kim Jung-kwan toured Musinsa and Olive Young stores in Hongdae in western Seoul on Monday afternoon, buying products popular with overseas shoppers and testing samples. He spoke with foreign customers and heard their difficulties, including concerns about counterfeit goods, the ministry said.

"Products from our manufacturing sectors, including K-beauty and K-fashion, are actively advancing through distribution platforms beyond the domestic market into overseas markets," Kim said during the visit. The government, he added, "will continue to expand support so that K-consumer goods can spread globally."

A promotional ceremony was held at 3 p.m. in Hongdae's Mannam Plaza, attended by about 40 supporters from the five regional zones and three special zones designated nationwide for the festival, along with representatives of the Korea Chamber of Commerce and Industry and retail trade associations. Chef Jung Ho-young took part in a talk show.

Discounts on offer across the festival run well beyond beauty and fashion. The five domestic automakers are cutting prices on popular models by at least 1.5 million won ($1,122) and by more than 10 million won ($7,478) at the top end, and used-car dealers are joining the event for the first time this year. Hyundai Motor's Xcient truck, for example, is being offered at a discount of up to 11.5 million won ($8,600).

Samsung Electronics is offering benefits of up to 6 million won ($4,487) on multiple purchases across 74 models of televisions and home appliances in 11 categories, plus 119 mobile and PC models. LG Electronics is discounting by up to 60 percent online and up to 38 percent in offline stores.