Seoul: Retail sales in South Korea experienced a 6.7 percent increase in October compared to the previous year, driven by heightened consumer activity during the extended Chuseok holiday, government data revealed on Wednesday. The combined sales of 23 major offline and online retailers reached 16.3 trillion won (US$11.1 billion), rising from 15.2 trillion won the previous year, as reported by the Ministry of Trade, Industry and Resources.

According to Yonhap News Agency, the sales growth was largely attributed to the extended Chuseok holiday, which lasted seven days this year. The holiday fell between two other national holidays, National Foundation Day on October 3 and Hangeul Day on October 9, effectively boosting sales at large discount and department stores. Offline store sales increased by 6.6 percent year-on-year, while online sales saw a 6.8 percent rise in October.

Department stores experienced a notable sales increase of 12.2 percent, and large discount stores recorded a 9.3 percent year-on-year gain. Meanwhile, sales at convenience stores edged up 0.7 percent, marking the fourth consecutive month of year-on-year growth. Conversely, sales at large-sized supermarkets, such as Lotte Super, declined by 1.7 percent.

The ministry also noted that online platforms accounted for 52 percent of total retail sales in October, a slight increase of 0.1 percentage points from the previous year.