More than 150 local retailers, fashion companies and cosmetics firms will participate in South Korea's biggest shopping festival, "Korea Sale Festa," slated for later this month, the trade ministry here said Tuesday.

During the Sept. 29-Oct. 9 event, 153 companies will offer big discounts to shoppers and foreign visitors at their 45,000 shops across the nation, according to the Ministry of Trade, Industry and Energy.

Among the firms on the list are big retailers including Lotte Department Stores and E-Mart, the largest discount outlet chain, along with duty-free shops like Lotte Duty Free and Shinsegae Duty Free.

The country's two leading home appliances companies, Samsung Electronics Co. and LG Electronics Inc., will also provide more discounted prices to customers, while LG Household & Health Care and Hyungji, a local apparel firm, will have big sales events during the period.

The Korea Sale Festa has been arranged by the government in order to fuel domestic consumption and draw more foreign shoppers.

The opening ceremony will be held on Sept. 30 with performances by K-pop stars including 2PM, SHINee and Sistar. (Yonhap)