Korean retailers will kick off the second annual K-Sale Day event offering major discounts on goods starting Friday, ahead of the U.S. Black Friday sales scheduled for Nov. 27.

Aiming to record a sharp increase in sales, retail giants including Lotte, Hyundai and Shinsegae department stores as well as large supermarkets, convenience stores, restaurants, electronics stores and clothing brands will hold various sales events as part of K-Sale Day, which will run through Dec. 15.

The upcoming event will be led by businesses rather than the government, as was the case with the Korea Grand Sale and Korea Black Friday events that concluded last month.

Lotte Department Store will see participation from around 780 brands, including some 120 stores newly participating this year -- including Beanpole, Dyson, Barbara and Style Nanda. Lotte plans to offer no-margin discounts on products totaling some 10 billion won ($8.54 million) in value.

Hyundai Department Store will open up a special sales venue at Coex Convention Center to showcase more than 35 million won worth of goods with discounts of up to 80 percent. Hyundai will lower the commission collected from its partner brands by 1-8 percentage points to help the brands offer steeper discounts.

Shinsegae will offer more than 50 percent discounts on a selection of 100 “K-Sale Day items” in the fashion, food and lifestyle categories, as well as special discounts on a number of brands only sold at its outlets, among others.

By Sohn Ji-young(jys@heraldcorp.com)