SEOUL Nov 29 Sales at South Korea's department
stores in October rose at their fastest pace in three months
thanks to a nationwide government-led discount sales event, the
Ministry of Trade, Industry and Energy said on Tuesday.
Combined sales at department stores run by Hyundai
Department Store, Lotte Shopping and
Shinsegae Co rose 6.0 percent from a year earlier
last month - the biggest gain since a 7.0 percent rise in July.
In September, sales rose 4.1 percent.
The trade ministry said household items saw the biggest
increase in sales among products sold in department stores,
jumping 15.6 percent on-year in October.
Starting from last year, the government decided to set a
period for large-scale discount sales by nearly all major
retailers to boost consumer spending, similar to Black Friday
and Cyber Monday that take place after the Thanksgiving holiday
in the United States.
Tuesday's data also showed discount store sales in October
rose 0.9 percent from a year earlier, rebounding from two months
Convenience stores continued to see steady demand for their
goods as October sales rose 15.5 percent on-year, slowing just
slightly from a 15.9 percent gain in September.
(Reporting by Christine Kim)