Chuseok Ancestral Rite Table Setting Cost: 250,000 KRW at Traditional Markets, 340,000 KRW at Large Supermarkets

Korea Agro-Fisheries & Food Trade Corporation Survey

[Sejong=Asia Economy Reporter Kim Hyunjung] The Korea Agro-Fisheries & Food Trade Corporation (aT) announced that the average cost of setting up a Chuseok ancestral rite table this year was 297,804 KRW, a slight increase compared to last year (293,365 KRW). By business type, traditional markets averaged 254,296 KRW, while large retail stores averaged 341,312 KRW, showing that traditional markets are approximately 87,000 KRW cheaper than large retail stores.

This survey was conducted on September 14, about a week before the Chuseok holiday, which is about 10 days earlier than last year, targeting 17 traditional markets and 27 large retail stores nationwide. It covered 28 essential items for the Chuseok ancestral rite table.

Compared to last year, prices in traditional markets rose by 4.1%, whereas large retail stores saw a 0.3% decrease, supported by the government’s supply stabilization measures and discount events. Compared to August 30, when the government’s supply stabilization measures began, prices of 8 managed items fell by an average of 1.6%.

This is attributed to the government’s policy effects, which included increasing the supply of major essential items by 1.5 times compared to normal times and 1.4 times compared to last year’s Chuseok, as well as holding a discount event for agricultural, livestock, and fishery products, providing a 20% discount on 22 major items.

By item, prices of food crops such as rice and sesame, which had poor harvests last year, and livestock products, which saw increased household demand due to the spread of COVID-19, rose slightly. However, prices of apples and pears, which had active new fruit shipments, and especially napa cabbage and radish, whose production increased due to a short rainy season, fell sharply.

Detailed information on the cost of purchasing essential items announced by aT is available on the Agricultural Products Distribution Information website, and information on offline markets such as direct transaction markets can be found on the Baro Information website.

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