Special events in airfare, shopping, and travel packages by 1,653 participating companies draw in 120,000 foreign tourists

K-culture experience events featuring K-pop dance and beauty total 74, with 900 participants from 52 Countries

The Ministry of Culture, Sports and Tourism (Minister YU In Chon, MCST) and the Visit Korea Committee (Chairperson LEE Boo Jin, VKC) successfully concluded the “2024 Korea Grand Sale” on February 29 (Thur), 50 days after its commencement on January 11 (Thur), drawing an unprecedented 120,000 foreign tourists.

Largest-ever Discounts on Flights, Shopping, and More with 1,653 Participating Companies

“Korea Grand Sale,” Korea’s premier shopping tourism festival since 2011, continuing for 13 years, aimed to attract foreign tourists during the off-peak tourism season (January to February) and promote tourism consumption by encouraging participation from various private companies in areas such as air travel, accommodation, shopping, dining, experiences, and convenience services.

Themed “Your Special Moment in Korea,” this year’s event witnessed the participation of a record-breaking number of over 1,653 companies, offering discounts and experiences in air travel, shopping, accommodation, dining, experiences, transportation, and convenience services from the moment of booking a trip to Korea until departure.

Domestic airlines such as Korean Air, Asiana Airlines, and Jeju Air sold over 87,500 discounted tickets through the “K-Travel Promotion” event (with a maximum increase of 521% in sales compared to the previous month for specific routes as of February 16, 2024; estimated to sell approximately 120,000 tickets as of February 29, 2024). Collaborations with renowned online travel agencies such as Creatrip, Klook, KKday, and Trip.com resulted in record-breaking sales of over 10,000 tourism products (marking a 414% increase in sales revenue compared to the same period last year).

Major duty-free shops such as Shilla, Lotte, and Shinsegae, alongside department stores, supermarkets, and outlets, participated in the K-shopping promotion. By February 16, 2024, duty-free shops and department stores experienced revenue increases of up to 269% and 122%, respectively, compared to the same period last year. Collaboration with global card company “UnionPay” enabled over 5,000 foreign tourists to enjoy shopping benefits, including a maximum 20% discount at affiliated stores.

 “Welcome Centers” Draw over 20,000 Visitors, Boosting Local Commerce

Popular destinations like Myeong-dong, Hongdae, and Seongsu saw a surge in foreign visitors, with over 21,770 tourists flocking to the Welcome Centers, doubling last year’s numbers. These centers offered event information and coupon booklets featuring discounts from participating businesses. Various activities, including applying receipts for events and winter sports experiences, were organized to promote local spending and enrich the travel experience in Korea. Notably, 6,542 foreign tourists participated in event with receipts, a 314% increase from the previous event, significantly boosting local businesses.

This year, the event expanded themed experiences such as K-pop dance, beauty, and Korean cuisine, leveraging globally beloved K-contents. These uniquely Korean experiences received enthusiastic responses from foreign tourists. Throughout the 50-day event, themed K-culture experience events were held 74 times, a seven-fold increase from last year, attracting approximately 900 tourists from 52 countries, marking a 592% increase compared to last year. With the recent trend of individual tourism among overseas Millennials and Gen Z travelers seeking cost effectiveness experiential tourism, next year’s plans aim to expand K-culture experience events further to accommodate more foreign tourists.

Satisfaction Rate recorded 90.8% and Willingness to Return stood at 89.2% by Foreign Tourists

A survey conducted during this event period targeted foreign tourists visiting the Welcome Centers. Results revealed that 90.8% of respondents were satisfied with the “2024 Korea Grand Sale,” with 89.2% expressing a desire to revisit Korea during future Grand Sale periods. These figures mark a 3.1%p and 5.1%p increase, respectively, compared to the previous year. As some respondents voiced a need for even greater discounts and a broader range of local tourism content, next year’s plans will include expanding discounts through collaboration with participating companies and early planning of local tourism events in cooperation with local governments to ensure a more enriching experience.

PARK Jong Taek, Director General for Tourism Policy, stated, “The 2024 Korea Grand Sale, as the first event of the 2024 Visit Korea Year, concluded successfully. This achievement will propel ongoing efforts to promote the Visit Korea Year campaign to attract more foreign tourists.”