Menu

Search

  |   Business

Menu

  |   Business

Search

South Korean businesses call off promotions, events due to the Itaewon disaster

Photo by: shawnanggg/Unsplash

Major companies have called off their promotions and events as South Korea mourns the passing of 156 young people during the weekend’s Halloween festival in Itaewon. Businesses have prepared a lot for the popular celebration, but everything has been scrapped, and even the decorations have already been dismantled.

Big firms and brands, as well as their service affiliates, have been rushing to cancel their scheduled Halloween events, a day after numerous people died in a crowd crush on Saturday, Oct. 29, in the Seoul district known for its nightlife.

With the tragic and heartbreaking incident, it was already expected that any Halloween promotions are not welcome. Currently, the occasion has no place in South Korea, especially after critics have attributed the surge of large crowds in Itaewon to excessive promotion of Halloween.

Critics are saying that establishments were able to draw massive attendance for the commercial interests businesses, but apparently, safety has been overlooked. It was predicted that with the incident, people’s interest in the popular festival would diminish, and households would no longer spend as much for decorations, costumes, and candies for this event again.

In any case, almost all sectors of businesses have designed their promotions and events to feature the Halloween theme, which already proved to be an effective sales booster in the past. Now, The Korea Times reported that these same companies are halting their activities related to the celebration in light of the unfortunate Itaewon incident.

"We have canceled all events related to Halloween, lest they become a painful reminder to victims and their families," a company official of one of South Korea’s leading retail chains said in a statement. "We have been ordered to take down installations and banners that celebrate the festival as well as remove products from shelves."

Parades and costume parties were also canceled, while concerts and shows were postponed. Lotte and Shinsegae are two of the major brands to have ordered the cancellation of Halloween events across their businesses, including hotels, department stores, and other retail outlets.

Photo by: shawnanggg/Unsplash

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.