Korea Grand Sale banners are displayed on the streets of Myeong-dong, downtown Seoul's iconic shopping and tourism district, Wednesday. Newsis

The Korea Grand Sale kicked off on Wednesday, featuring a wider range of travel and shopping benefits for inbound tourists and foreign residents in Korea.

Hosted by the Ministry of Culture, Sports and Tourism and the Visit Korea Committee, the annual festival running until Feb. 28 offers promotions exclusive to foreign customers to boost inbound tourism during the off-season in January and February.

“Through the Korea Grand Sale, we hope foreign tourists visiting Korea can enjoy various sales promotions and the diverse charms of K-culture,” Deputy Minister of Culture, Sports and Tourism Jang Mi-ran said in a welcome speech during an opening event in central Seoul's iconic shopping district of Myeong-dong.

“The ministry will provide a chance to revitalize the domestic tourism market and economy through this event,” she said.

This year's shopping festival is joined by 1,680 travel-related companies — a record-high number of participants since its launch in 2011 — set to offer a wider range of promotions.

During the event, 10 domestic airlines, including Korean Air and Asiana, offer up to 94 percent in discounts on 214 international flight routes to Korea, as well as free extra luggage service and onboard Wi-Fi vouchers.

Online travel agencies Trip.com and Konest launched a maximum 31 percent discount on non-Korean airline flights to Korea from China, Hong Kong and Japan.

Several hotels and resorts, including Ibis Styles Ambassador and Mayfield Hotel, provide a maximum 19 percent discount on accommodations.

Up to 15 percent discounts will be offered to foreign shoppers at department stores, duty free shops, hypermarkets and outlets in Seoul, Busan and other major cities across the country.

Deputy Minister of Culture, Sports and Tourism Jang Mi-ran, center, poses with foreign tourists at the Korea Grand Sale welcome center in Myeong-dong, Seoul, Wednesday, after delivering gifts. Courtesy of Ministry of Culture, Sports and Tourism

Notably, the ministry improved convenience for foreign travelers by strengthening cooperation with domestic platforms.

Kakao Mobility, the operator of the country's top taxi-hailing service, provides a 3,000 won promotion code for users of its foreigner-only taxi-hailing service, k.ride.

Catch Table, a restaurant reservation app, offers discounts, welcome drinks and desserts at some 400 restaurants across the country to those who visit after making reservations through its app.

Musinsa Standard, an in-house fashion brand run by Korea's largest online fashion shopping platform Musinsa, offers a 10 percent discount in 19 stores nationwide.

Shoppers who spend over 150,000 won at five Olive Young stores in Myeong-dong will also be given 20 percent discount coupons.

During the event, information about the festival, retail promotions and event locations in English, Japanese and Chinese will also be available on Naver Map.

Those who make payments with the Wow Pass cashless prepaid card at Olive Young, Daiso and Innisfree stores will receive a maximum 5 percent in cashback benefits, while UnionPay users will get a 10 percent discount at over 1,000 retail stores nationwide.

Korea Grand Sale welcome centers, installed in Myeong-dong, Hongdae, Seongsu and Gangnam, provide booklets with promotion coupons and hold prize giveaway events for visitors.

The festival also features expanded Korean culture tour programs, encompassing K-pop, Korean cuisine, cosmetics, heritage sites and regional attractions.

Highlights include tours of the Nongshim noodle factory, a fashion modeling class with a leading agency and traditional accessory-making workshops at Seoul's Bukchon Hanok Village, as well as a soju distillery tour in Gangwon Province and taekwondo and skiing experiences in Muju, North Jeolla Province.