Chuseok Ancestral Rite Table Preparation Traditional Markets Are 85,000 Won Cheaper Than Marts

Price Competitiveness of Traditional Markets Compared to Large Retailers for Fresh Meat and Vegetables

An emergency disaster relief fund usage guide sign is posted at Yeongcheon Market in Seodaemun-gu, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Cheol-hyun] When preparing the Chuseok ancestral rites table this year, it was found that traditional markets are approximately 85,000 KRW cheaper than large discount stores. On the 13th, the Small Enterprise and Market Service (Chairman Jo Bong-hwan) announced the results of a price comparison survey conducted from the 1st to the 3rd of this month, targeting 37 traditional markets and 37 nearby large discount stores for 27 Chuseok ritual food items.

The survey results showed that the cost of setting up a Chuseok ancestral rites table for four people this year averaged 267,762 KRW at traditional markets and 353,685 KRW at large discount stores. Traditional markets were about 85,923 KRW (24.3%) cheaper than large discount stores. By item category, vegetables (58.0%), meat (29.1%), and seafood (24.4%) were cheaper at traditional markets compared to large discount stores.

Among the 27 items surveyed, traditional markets had a price advantage over large discount stores in 19 items. In particular, items that were cheaper at traditional markets than at large discount stores were balloon flower root (Kkandoraji) (73.6%), bracken (Gosari) (72.1%), spinach (53.2%), and beef for soup (44.3%), in that order.

Compared to last year's prices for Chuseok ritual food items, prices at traditional markets rose 6.5% from 251,442 KRW to 267,762 KRW, while large discount stores saw an 11.9% increase from 316,058 KRW to 353,685 KRW. Seafood prices remained stable due to an overall increase in catch volume and government stockpile supply, while prices for chicken and eggs appear to have remained high due to culling caused by highly pathogenic avian influenza (AI) earlier this year and the effects of heatwaves. Fruit prices generally increased due to delayed shipments caused by heatwaves and late autumn rains. Vegetable prices have been declining as temperatures dropped and production increased after Cheoseo (the end of summer).

Jo Bong-hwan, Chairman of the Small Enterprise and Market Service, said, "Traditional markets are ready to welcome customers with improved services and fresh products," adding, "During the Chuseok holiday, we hope people will shop abundantly and economically at traditional markets, which greet customers with affordable prices and generous hospitality."

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