Corporations lie low following Itaewon tragedy

Korean corporations are trying to keep a low profile during a mourning week for the Itaewon crowd crush, sending condolences to the victims and grieving family members.

A worker takes down banners promoting the Korea Sale Festa at Myeongdong, central Seoul, in respect of those affected by the accident at Itaewon. [YONHAP]

Korean corporations are trying to keep a low profile during a mourning week for the Itaewon crowd crush, sending condolences to the victims and grieving family members.

Samsung Electronics will scale down its founding anniversary ceremony on Nov. 1 in an effort to remember the lost lives in the tragedy.

“Last year’s ceremony was also brief, but this year will be more downsized to grieve with people,” a spokesperson at the electronics maker said.

It canceled most of promotional events related to Halloween both online and offline.

Samsung Electronics Vice Chairman Han Jong-hee and CEO Kyung Kye-hyun released a statement expressing sorrow on its internal corporate site.

“We offer deep condolences to the victims of the Itaewon disaster, and our heart go out to those who lost their loved ones,” it read, requesting that employees join in mourning.

LG Corporation expressed sympathy on Facebook and Instagram and canceled marketing events and festivals planned by LG Electronics and LG Household & Health Care.

Executives at HD Hyundai, formerly Hyundai Heavy Industries (HHI) Holdings, paid tribute at a mourning altar near the Seoul city hall in central Seoul. Attendees include Chairman and co-CEO Kwon Oh-gap.

Retailers are cancelling sales and various promotions too.

SSG Day has been canceled.

Shopping malls including SSG.com, S.I.Village, W Concept, Shinsegae Live Shopping were scheduled to hold a sale between Monday through Nov. 11.

Despite this year’s sale intended to last longer — by an additional five days — to celebrate the acquisition of eBay Korea, the event was canceled.

SCK Company, which runs Starbucks Korea, will temporarily close its Itaewon branch and Hangangjin branch on Monday. The closure follows Seoul Metropolitan City requesting restaurants and stores in Itaewon to refrain from opening on Monday.

The opening ceremony for the Korea Sale Festa, the Korean equivalent of Black Friday, was to take place on Monday, but was canceled. Around 2,300 companies will still participate in the sale running from Tuesday to Nov. 15, but banners that advertise the event were all taken down on Monday as promotions for the sale will be minimal.

Retailers under Lotte Corporation — Lotte Shopping and Korea Seven — have been hosting an annual sale since Oct. 27.

The companies won’t cancel the sale. However, they will cancel events to promote the sale, such as displaying Belly Gom, a huge teddy bear, at various stores and giving gifts to visitors who upload the picture of the bear on their social media.

BY PARK EUN-JEE, LEE TAE-HEE [park.eunjee@joongang.co.kr]