"How Much Did You Check?"... Selfish Business Targeting 'Disaster Relief Fund Boom'

Traditional Market More Expensive Than Department Store
Electronics Market Encouraging Cash Payments

[Asia Economy Reporter Seungjin Lee] As the government's emergency disaster relief fund application and distribution began, customers started gathering one by one in the neighborhood markets. The electronics market was bustling with people looking at home appliances, and local bicycle shops were also filled with customers. Traditional markets also regained vitality after a long time. However, consumers' expressions were not bright due to selfish merchants who raised prices compared to online open markets and bargained with customers over the disaster relief funds, which are "money that must be spent anyway."

"Emergency disaster relief funds can be used. Please take a look at the air conditioners." On the afternoon of the 14th, voices of merchants trying to attract customers echoed throughout Gangbyeon Techno Mart in Seoul. Due to the impact of the novel coronavirus infection (COVID-19), customer visits had sharply declined, but with the release of the emergency disaster relief funds, the number of customers increased. Some stores were busy putting up signs indicating that emergency disaster relief funds could be used to open consumers' wallets.

The reason why the electronics market has recently enjoyed an unexpected boom is that households received a lump sum of up to 1 million won, but the usage period is limited until August 31. In addition, large department stores, large marts, and large home appliance stores are excluded from the places where emergency disaster relief funds can be used, so customers flocked to places where individual business owners operate.

Kim Chang-su (52, pseudonym), who runs a home appliance store at Techno Mart, said, "Recently, the number of people asking by phone whether they can use the disaster relief funds has greatly increased," adding, "Just a moment ago, a couple-to-be bought a refrigerator using the disaster relief funds."

Unlike those who were able to smile brightly for the first time in a while, the expressions of consumers visiting the electronics market were not bright. Most products were more expensive than on internet open markets or large electronics stores. In most cases, the price was decided after bargaining with the store owner.

In fact, when inquiring about a wall-mounted air conditioner at a home appliance store, the response was, "How much have you checked so far?" When pointing to an air conditioner priced at 1 million won, the store owner encouraged cash payment, saying, "If you pay in cash, we will match the lowest internet price." The lowest internet price for the product was in the 600,000 won range, about 400,000 won cheaper than the store price. This means customers are being overcharged if they want to buy it with the disaster relief funds.

The traditional market was no different. Fruits that were sold cheaper than at large marts were now being sold at prices higher than department stores. On the morning of the 15th, after visiting three fruit and vegetable stores in Namdaemun Market in Seoul, the average price for five apples was 10,000 won. However, the price for five apples currently sold at E-Mart ranged from 6,980 to 8,980 won, more than 3,000 won cheaper than the traditional market. It was even more expensive than the "washed apples, 15 pieces," sold at Shinsegae Department Store for 23,100 won.

A housewife, Lee Su-hyun (33, pseudonym), met at the market said, "I 100% agree with the government's intention to revive neighborhood markets, but I only felt upset because of the selfish merchants' behavior," adding, "I came out to buy fruit, but I feel like I'm being overcharged, so I think I need to look for other places to use the disaster relief funds."

This content was produced with the assistance of AI translation services.