'Chuseok Jesuyongpum'... Traditional Markets 20.4% Cheaper Than Large Marts

Small Enterprise and Market Service, Survey on Ancestral Table Costs for 4 People

Source: Small Enterprise and Market Service

[Asia Economy Reporter Kim Daeseop] The Small Enterprise and Market Service announced on the 21st that the cost of preparing a Chuseok ancestral rite table for four people this year was about 20.4% cheaper at traditional markets compared to large supermarkets.

This survey was conducted from the 7th to the 10th of this month, comparing prices of 27 Chuseok ritual items in high demand at 37 traditional markets nationwide and 37 nearby large supermarkets. The average cost at traditional markets was 251,442 KRW, while large supermarkets averaged 316,058 KRW. It was found that traditional markets were approximately 20.4% (64,616 KRW) cheaper than large supermarkets.

By item category, traditional markets showed price advantages over large supermarkets in the following order: ▲vegetables (43.3%) ▲meat (25.7%) ▲seafood (25.1%) ▲fruits (3.2%). Among the 27 items surveyed, traditional markets were cheaper in 21 items compared to large supermarkets.

Items where traditional markets had particularly strong price advantages included ▲gosari (bracken fern) (64.5%, 7,707 KRW) ▲peeled doraji (balloon flower root) (64.1%, 7,780 KRW) ▲beef soup meat (34.6%, 15,813 KRW) ▲dried pollack (dongtaepo) (33.7%, 5,267 KRW) ▲jujube (31.5%, 2,453 KRW), in that order.

Due to consecutive adverse weather conditions such as prolonged rainy seasons and typhoons, prices rose in both traditional markets and large supermarkets. Compared to last year's Chuseok ritual item prices, traditional markets increased from 226,832 KRW to 251,442 KRW, a rise of about 10.8%. Large supermarkets increased from 303,034 KRW to 316,058 KRW, about a 4.3% increase during the same period.

In particular, vegetables such as radish and green onions saw significant price increases due to poor crop yields and reduced shipments caused by continuous adverse weather. Fruit prices rose due to decreased production caused by poor growth and fruit drop damage. Prices of seafood and meat also increased.

Jo Bonghwan, Director of the Small Enterprise and Market Service, said, "Our traditional markets are not only affordable but are also actively improving customer service through joint campaigns. Given the special circumstances of COVID-19, individual traditional markets are focusing on quarantine measures, so we hope both traditional markets and customers will strictly follow COVID-19 prevention guidelines to enable affordable and healthy Chuseok shopping."

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