SMEs ministry opens Korea Grand Festival in Andong to spur nationwide spending

The SMEs ministry said Monday it opened the second Korea Grand Festival in Andong, North Gyeongsang Province, launching an 18-day national campaign that runs through Nov. 15 with 10 government ministries and about 40,000 companies taking part.

The festival bundles the individual spending promotions of each ministry into a single program aimed at shoring up domestic demand and lifting sales in regional economies. The opening ceremony began at 5 p.m. on Saturday around the old Andong Station, drawing some 2,000 residents and tourists along with Prime Minister Han Seong-sook, SMEs Minister Lee So-young, Veterans Affairs Minister Kwon Oh-eul, lawmaker Kim Hyung-dong, North Gyeongsang Province economic deputy governor Yang Geum-hee and Andong deputy mayor Lee Chi-heon.

Andong is the first host city selected through a nationwide open contest among local governments. Discount events and promotions are running in five commercial areas around the old station: the Food Street, Central Culture Street, Namseo shopping area, Andong Old Market and Andong Central New Market.

Visitors who present a receipt for a ticket to the opening-day concert are refunded a 20,000 won ($15) Andong Sarang gift certificate, which they can spend at shops in the surrounding districts. Markets such as Andong Old Market, Andong Central New Market and Yongsang Market are also running night markets, food events, hands-on programs and prize draws, including a jjimdak chicken stew festival at the old market.

A sightseeing train linking the ceremony with Andong's main attractions ran during the opening, and before the event senior officials visited nearby stores, tasted jjimdak, the city's signature dish, and made purchases to encourage small business owners.

At the ceremony, Lee offered condolences to residents still recovering from last year's wildfires and framed the festival as a lift for the local economy. "I hope the Korea Grand Festival, which begins today in Andong, will breathe vitality into the regional economy and help it take a vigorous leap forward," she said.

The national program continues across the country through Nov. 15, with discounts at online and offline retail channels, additional markdowns on local-love gift certificates, a higher discount rate on digital Onnuri gift certificates from Monday to Friday and win-back lottery tickets for spending. The ministry said it will work with other government bodies to keep cabinet members visiting regional sites until the event closes, and that it intends to develop the festival into an international event that foreign tourists and audiences abroad can enjoy.