This Year's Seol Charyesang Table Setting Cost Expected at 'Large Mart 260,000 Won'... 19% Increase from Last Year

Traditional markets at 210,000 KRW, up 13% YoY... Price increases in apples, pears, persimmons, spinach, green onions, zucchini, eggs, mung beans, etc.
Seoul Agro-Fisheries & Food Corporation surveys 14 traditional markets, 7 large marts, and Garak Market in Seoul

[Asia Economy Reporter Lim Cheol-young] This year, the cost of setting up a Seol Charyesang (Lunar New Year ancestral rites table) is estimated at 210,000 KRW at traditional markets and 260,000 KRW at large discount stores. Compared to last year, traditional markets saw a 13% increase, while large discount stores experienced a 19% rise.

According to the Seoul Agro-Fisheries & Food Corporation on the 26th, a survey was conducted on the cost of setting up the Seol Charyesang at a total of 22 locations, including traditional markets, large discount stores, and Garak Mall within Garak Market across seven districts in five living zones in Seoul. The purchase cost at large discount stores was 261,821 KRW, up 19% from the previous year, while traditional markets recorded 211,245 KRW, a 13% increase from last year. This survey focused on 36 major seasonal items in high demand during Seol (based on a family of 6 to 7 members).

Prices of fruits such as apples, pears, and persimmons, as well as vegetables like green onions, zucchini, and spinach, rose sharply across all purchase locations compared to the previous year. Conversely, prices of radish, napa cabbage, flatfish, and squid declined compared to last year. Traditional markets were found to offer fruits at an average of 19% cheaper, radish and napa cabbage at 9% cheaper, and livestock products such as beef, pork, and broiler chicken at about 24% lower prices than large discount stores.

Furthermore, if the government’s “ban on gatherings of five or more people” continues through the Seol holiday, the cost of a small-scale Charyesang (for 3 to 4 people) is expected to be around 120,000 KRW at traditional markets and 150,000 KRW at large discount stores. When adjusting the Charyesang cost surveyed by the corporation for 6 to 7 people by excluding the minimum unit fruit items and fish to fit 3 to 4 people, the estimated cost is 125,792 KRW at traditional markets and 154,541 KRW at large discount stores.

By item, fruit prices are generally strong due to poor harvests caused by last year’s prolonged rainy season and typhoons. Apples (Busa variety) suffered quality degradation due to cold damage in spring and rainy damage in summer last year, and increased demand for high-quality products is expected to drive prices up. Particularly, price differences based on size and quality are anticipated to be significant. Pears and persimmons are also expected to maintain a firm price trend as production decreased while consumption increased approaching the Seol holiday.

Production of napa cabbage and radish increased compared to last year, and prices are expected to decline due to increased supply of low-quality products caused by cold damage and sluggish consumption due to COVID-19. Green onion prices surged significantly due to reduced harvests from cold damage, but are expected to stabilize as supply increases with rising temperatures.

Zucchini prices are expected to rise due to decreased supply from major production areas such as Jinju and Gwangyang caused by adverse weather and insufficient sunlight. Spinach prices are also expected to increase due to reduced supply from recent cold spells. Squid prices are forecasted to decline compared to last year due to increased catch volume and overall quality deterioration. The supply of imported flatfish remains stable, but demand has been decreasing annually, leading to lower prices. With sufficient supply, prices are expected to remain stable through the Seol holiday.

This survey was conducted over two days, January 18-19, by nine members of the Seoul Price Survey Monitoring Team, who visited 14 traditional markets including Yongsan-gu Yongmun Market, seven large discount stores including E-Mart, and Garak Mall to directly investigate the retail costs of major Seol seasonal items.

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