Lotte Mart Applies 0% Tariff Quota... Selling Beef at 1,000 KRW per 100g

Up to 40% Discount on U.S. and Australian Beef

A customer is purchasing beef at Lotte Mart Seoul Station branch in Seoul.

[Asia Economy Reporter Lim Chunhan] Lotte Mart announced on the 22nd that it will offer up to 40% discounts on some grilling and steak beef products from the U.S. and Australia, which are subject to a 0% tariff quota, until the 27th.

As a representative product, U.S. Choice Flat Iron and Prime Chuck Eye Roll are offered at 1,990 KRW per 100g, about 40% cheaper than the original price. For refrigerated beef from the U.S. and Australia, prices are generally reduced by an average of 10%, and about 20 items, including Australian Wagyu Striploin, offer approximately 20-40% discounts for L.Point members.

Canadian pork, which has been subject to tariff quotas since the 1st of this month, will be sold at 1,580 KRW for pork belly and 1,480 KRW for pork neck, about 20% cheaper than prices before the tariff quota application. Lotte Mart’s signature product, shoulder rack (lamb ribs), will be sold at a 30% discount for L.Point members, and the spicy broth lamb shabu-shabu called Yang 5-Second Shabu, which includes two kinds of sauces, will also be available at a low price.

A Lotte Mart official said, “We prepared this event to help customers who feel burdened by the prolonged price increases when shopping,” adding, “We will do our best to prepare reasonable products to stabilize food prices.”

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