Ahead of November 1 'Hanwoo Day'... Lotte Mart Offers Up to 50% Discount Event

Lotte Mart will celebrate "Hanwoo Day" on the 1st of next month by offering up to 50% discount on first-grade Hanwoo from the 28th of this month to the 3rd of next month. A model is introducing the event products.

50% Discount on 'Grade 1 Hanwoo Sirloin' for 4 Days from the 28th to the 31st
Number Nine Hanwoo and Gangwon Hanwoo 40% Off Until November 3
Direct Auction Two Months in Advance, 800 Hanwoo Cattle (Approx. 100 Tons) Prepared

[Asia Economy Reporter Yuri Kim] Lotte Mart announced on the 27th that it will offer up to a 50% discount on Grade 1 Hanwoo, which has increased in price by about 10% compared to last year, in celebration of 'Hanwoo Day' on the 1st of next month.

From the 28th to the 3rd of next month, Lotte Mart will hold the 'Hanwoo Day' event, offering a 40% discount on all products of the highest grade Hanwoo such as 'Number Nine Hanwoo', the premium-certified 'Jirisan Sunwoo Hanwoo', and the presidential award-winning 'Gangwon Hanwoo' to L.Point members when paying with event cards. Various Hanwoo cuts including Grade 1 sirloin, soup cuts, bulgogi, as well as tenderloin, skirt meat, striploin, and special parts will be available both online at Lotte On and in offline stores. For four days until the 31st, 'Grade 1 Hanwoo sirloin' will be offered at a 50% discount.

'Hanwoo Day' is designated by the National Hanwoo Association as a day to promote Hanwoo consumption. It was set on November 1, inspired by the Chinese character for cow (牛) containing three instances of the number one (一). Last year, Lotte Mart's 'Hanwoo Day' sales over 10 days exceeded 10% of the annual Hanwoo sales.

According to the Livestock Products Quality Evaluation Service, the price of Hanwoo rose 6.3% month-on-month to 22,876 KRW per kilogram for Grade 1 in September, and increased about 10% compared to last year's price of 20,579 KRW. Lotte Mart stated, "Despite this situation, we were able to prepare a spectacular discount event for 'Hanwoo Day' through direct participation in Hanwoo auctions."

Since 2019, Lotte Mart has directly participated in auctions at livestock markets in Eumseong, Chungbuk, and Bucheon, Gyeonggi, sourcing high-quality Hanwoo at affordable prices. Livestock product planners (MDs) who have obtained the 'trader participant' qualification purchase about 20 cattle daily through auctions from Tuesday to Friday. The mart explained, "By having MDs directly inspect and purchase Hanwoo at the production site markets, we have created a structure that ensures quality control and sells high-quality Hanwoo meat at low prices through minimized distribution stages." Direct auction products account for 55% of Lotte Mart's Hanwoo product lineup.

Lotte Mart's livestock MDs secured pre-quantities by participating in Hanwoo direct auctions two months before the event. Through this, 80% of the event's volume was composed of direct auction products. Including this, they prepared 800 Hanwoo cattle (approximately 100 tons), increasing the volume by 10% compared to the previous year.

Yoon Byung-soo, Head of Lotte Mart's Fresh Food Division 2, said, "Although food prices continue to rise daily, we have thoroughly prepared in advance to offer reasonably priced Hanwoo so that all consumers can enjoy Hanwoo comfortably. We hope customers will experience the excellent quality and taste of Hanwoo, which is Lotte Mart's competitive advantage, through this Hanwoo Day event."

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