"Seol Charyesang Cost 264,000 Won... Traditional Markets Are 100,000 Won Cheaper Than Large Mart"

aT Announces Cost Outlook for Seol Charyesang Ceremony Table

The cost of the Lunar New Year ancestral rites table is expected to be around 264,000 won, similar to the previous year. (Photo by Korea Agro-Fisheries & Food Trade Corporation)

[Sejong=Asia Economy Reporter Moon Chaeseok] This year's Lunar New Year ancestral rite table cost is expected to be about 264,000 KRW, similar to previous years.

The Korea Agro-Fisheries & Food Trade Corporation (aT) announced on the 12th that the average cost for the Chuseok ancestral rite table this year will be around 264,000 KRW. This survey was conducted on the 11th, three weeks before Seollal, targeting 17 traditional markets and 27 large retail stores nationwide, examining 28 essential items for the Seollal ancestral rite table. Compared to last year, traditional markets are expected to rise by 0.4% to 264,442 KRW, and large retail stores by 0.2% to 363,511 KRW.

By item, prices increased for wild products such as jujube and balloon flower root, which were damaged during the late monsoon harvest last year, and beef, which saw increased household demand due to the spread of COVID-19. Prices decreased for rice, which had a bumper harvest, and apples and pears, which had abundant inventory. By retail type, 19 out of the 28 surveyed items were found to be cheaper in traditional markets. However, some items like rice, apples, and pears were cheaper in large retail stores.

The government plans to expand the supply of 10 major items, including apples, pears, and beef, by 1.4 times compared to normal periods to stabilize the supply of Seollal seasonal products. The limit for agricultural and livestock product consumption coupons will be raised from 10,000 KRW to 20,000 KRW, and discount events for seasonal products will be promoted mainly by producer organizations such as agricultural and livestock cooperatives to reduce the consumer price burden.

Kim Kwon-hyung, head of aT's supply management division, said, "To help reasonable consumption, we plan to provide information on Seollal seasonal product purchase costs twice more on the 19th and 26th," adding, "We will provide thrifty consumption information to assist in rational seasonal product purchases."

aT will provide information on both the 'traditional ancestral rite table cost' and the 'simplified ancestral rite table cost.' This information can be checked on the Agricultural Product Distribution Information website or smartphone app. 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.