Seol Charyesang Prices Hit Record Highs... "Costs Will Be Higher This Year"

Traditional Markets Up 4.1%, Large Supermarkets Up 2.1%

Price Comparison of Lunar New Year Table Settings. (Photo by Korea Price Information)

[Asia Economy Reporter Lim Chun-han] Following last year, the cost of the Seol ancestral rites table has risen again this year, reaching an all-time high.

According to Korea Price Information, a professional price survey organization, on the 12th, the cost of the Seol ancestral rites table for a family of four is estimated to require 254,500 KRW when using traditional markets, which is a 4.1% increase compared to last year. If using large discount stores, 359,740 KRW is needed, marking a 2.1% increase from last year's Seol holiday.

By item category, fruit prices fell compared to last year, and prices of dried persimmons and jujubes also dropped due to increased shipments. Among vegetables, spinach, which is in season, saw a price decrease, but bracken, whose production has been declining annually, saw prices rise for the second consecutive year. Most seafood prices remained stable, but kelp, affected by poor growing conditions, saw a price increase. Livestock products experienced price hikes due to rising feed costs caused by international grain price increases and soaring oil prices. Additionally, processed food prices such as flour and cooking oil rose due to raw material price surges influenced by the Ukraine war.

Lee Dong-hoon, senior researcher at Korea Price Information, said, "Some items affected by the war drove the overall price increase, but prices of other items actually decreased compared to last year," adding, "Except for some manufactured goods, traditional markets were cheaper than large discount stores."

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