[Report] Quiet Livestock and Seafood Markets Ahead of Seol Holiday... "Sales Down to One-Third"

Visiting Noryangjin Fish Market and Majang-dong Livestock Market
Customers Sparse Even a Week Before Lunar New Year Holiday
"Prices of Livestock and Seafood Have Risen Significantly, Hesitant to Buy"
Measures to Revitalize Traditional Markets Also "Only Temporary Effects"

[Asia Economy Reporters Seoyul Hwang, Taewon Choi] "Normally, starting from a week before the Lunar New Year holiday, we would have many customers taking packaged goods. But look around, there isn’t a single customer taking packages. It seems like sales are less than one-third of what they were around this time last year." (Jung Suin, 58, who sells seafood and crustaceans at Noryangjin Fisheries Wholesale Market in Dongjak-gu, Seoul)

Around 12 PM on the 13th, I visited Noryangjin Fisheries Wholesale Market in Dongjak-gu, Seoul. Even a week before the Lunar New Year holiday, the market appeared quiet.
Photo by chestnut@

At around 12 PM on the 13th, a week before the Lunar New Year holiday, we visited Noryangjin Fisheries Wholesale Market in Dongjak-gu, Seoul. Merchant Jung, whom we met there, was standing at the counter instead of by the aquarium, reflecting the leisurely market atmosphere despite the upcoming peak season. Some merchants were busy trying to attract even a few customers who came sporadically, but customers kept their hands in their pockets and rarely took out their wallets.

The Majang-dong Livestock Market in Seongdong-gu was similarly quiet. When visited around 8 PM on the 12th, the market, known as the largest livestock market in the country, was filled only with the occasional sound of meat being cut, breaking the silence. Although some customers came to choose gift sets, they seemed reluctant and did not proceed to purchase. Mr. Seo (59) lamented, "During the holiday peak season, we used to work until dawn to fulfill orders coming in until midnight, but this Lunar New Year, everyone seems to wrap up and go home by 9 PM at the latest."

The hesitation of customers to make purchases appears to be largely influenced by the rising prices of agricultural, livestock, and seafood products. According to the National Statistical Portal (KOSIS) of Statistics Korea, the price index for agricultural, livestock, and fishery products was 112.82 last year (2020=100), up 3.78% from the previous year (108.73).

In fact, citizens visiting Noryangjin Fisheries Wholesale Market unanimously said that seafood prices have risen compared to previous years. Kim Mija (48), who came to buy seafood with her son and husband, said, "Compared to last year, prices are much higher," adding, "I often buy yellow croaker, and a box cost 200,000 won last year, but this year it’s 240,000 won." Kim’s family carried no bags in their hands, only light and empty. Mr. Kim (72), who turned away immediately after hearing the price of Hong scallops, said, "Prices have definitely gone up a lot," showing a bag and adding, "I walked around for an hour, but it was so expensive that I only barely bought some fried food."

Around 8 p.m. on the 12th at Majang-dong Livestock Market in Seongdong-gu, Seoul. In previous years, the shops would have been brightly lit at this time to handle the flood of orders before the Lunar New Year peak season, but this year most appeared to have finished their business for the day.
Photo by Tae-won Choi skking@

Gift sets, which are usually sold in large quantities before the Lunar New Year, were also sluggish in sales. The sound of tearing tape to seal styrofoam boxes containing seafood was hardly heard. Lee Minpyo (50), who sells seafood and crustaceans, said, "Almost no Lunar New Year sets are selling," adding, "Even though prices for king crabs and clams haven’t risen significantly compared to last year, people are not buying." Mr. Kim (46), who sells livestock products in Majang-dong, also said, "The 19th is the deadline for courier deliveries of fresh meat, so this should be the busiest time, but it’s very quiet."

Although the government and local authorities implemented measures to revitalize traditional markets ahead of the Lunar New Year holiday, there are reports that the effects were only temporary as consumer sentiment froze due to the economic downturn. The Ministry of Oceans and Fisheries is currently running a campaign from the 14th to the 21st, offering a 30% refund (up to 20,000 won) in Onnuri gift certificates when purchasing seafood at Mapo Agricultural and Marine Products Market, Sinyeong Market, and Noryangjin Fisheries Wholesale Market.

When revisiting Noryangjin Fisheries Wholesale Market at 2:30 PM on the 15th, the day after the event started, the market was busier than before, but merchants still responded that "there are fewer people than usual before the Lunar New Year peak." Mr. Kim (66), who sells blue crabs and squid, said, "Many people came on the first day of the event, but today they disappeared quickly," adding, "Large-volume items like blue crabs should sell a lot near the holiday, but sales are different from previous years."

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