Korean Black Friday Comes on Dec. 12

Korea’s domestic on-line shopping malls plan to stage "joint 50 percent discount promotion" to win back hearts of consumers who fell in love with direct purchases through overseas on-line shops.

Ten domestic on-line retail corporations announced on Monday to hold a single day event for joint sales promotion dubbed "Korean Black Friday" on Friday. As the number of direct purchases via overseas on-line malls has soared around on Nov. 28, America’s biggest shopping season Black Friday with promotional sales offered, domestic on-line retailers started a counterattack.

Korean retail corporations participating in this promotional event include the 11st Street, Hyundai H Mall, lotte.com, ellotte.com, CJ Mall, AK Mall, Galleria Mall, Lotte Super, Hi-Mart Shopping Mall and Daegu Department Store Mall, etc.

The 11st street plans to distribute 50-percent time coupons at every hour to 3,000 customers from 9 a.m. to 6 p.m. on Friday. At every hour, "Time Sales" event will be held to offer 50 percent discounts to Celine Trio bag (priced at 590,000 won) and Canada Goose jacket (274,500 won). Customers who pay with Shinhan, Hyundai, Lotte and Samsung credit cards can buy state-of-the-art cell phones at half price, including iPhone 6 (at 425,000 won), Samsung Galaxy Note4 Edge (at 521,500 won) and Samsung Galaxy Note4 (at 501,000 won) on a first-come-first-served basis.

Hyundai H Mall will provide 50 percent discounts on 200 products including brand products, which are currently sold at Hyundai department stores, such as Guess down jumper at 99,000 won, Marc Jacobs ladies’ watch at 190,000 won and Nespresso capsule coffee machine at 274,500 won.

AK Mall also plans to provide 50 discount coupons to 10,000 customers. The products to be sold at half price include K2 heavy down jumper (at 237,600 won), Bearpaw Jonnie boots (at 39,000 won) and Calvin Klein gloves for men and women (at 25,500 won). Galleria Mall will offer coupons with maximum discount of 10,000 won to 1,200 customers in total.