Seoul Chuseok Ancestral Table Setting Cost: Traditional Markets 240,000 KRW · Large Supermarkets 280,000 KRW

Seoul Agro-Fisheries & Food Corporation Announces Chuseok Ancestral Table Cost Survey Results for 16 Traditional Markets, 8 Large Marts, and Garak Market (Garak Mall) in Seoul... This Year’s Cost for a 6-7 Person Family: Traditional Markets Average 237,381 KRW, Large Marts Average 280,581 KRW, Down 2.4% and 8.7% Respectively from Last Year

The Seoul Agro-Fisheries & Food Corporation (President Moon Young-pyo) announced the results of a survey on the cost of setting up a 2023 Chuseok ancestral rite table at a total of 25 locations, including traditional markets, large supermarkets, and Garak Mall in Garak Market across 8 autonomous districts in 5 regional living zones within Seoul, to provide helpful information for budget-friendly Chuseok holiday shopping.

The corporation annually surveys 36 major seasonal items in high demand for the Chuseok ancestral rite table (based on a family of 6-7 members) and publishes the results.

This survey was conducted on September 8 by the Seoul Price Survey Monitoring Team, who directly visited 16 traditional markets including Yongsan-gu Yongmun Market, 8 large supermarkets such as E-Mart, and Garak Mall in Garak Market to investigate the purchase costs of key seasonal items for the Chuseok ancestral rite table.

The survey results showed that this year, ▲the purchase cost at large supermarkets was 280,581 KRW, down 8.7% from the previous year, ▲the purchase cost at traditional markets was 237,381 KRW, down 2.4% from the previous year, with traditional markets being about 15% cheaper than large supermarkets.

Last year, due to the early Chuseok, the cost of setting up the ancestral rite table was somewhat high, so the overall cost for this year’s Chuseok ancestral rite table appears to have decreased slightly.

Prices of fruits (apple, pear), vegetables (cabbage), seafood (squid, yellow croaker), and rice increased compared to the previous year at all purchase locations, whereas prices of vegetables (zucchini, spinach, radish, green onion), wild greens (bracken, bellflower root), and livestock products (beef) decreased compared to the previous year.

Traditional markets were found to be approximately 11% cheaper for fruits, 13% cheaper for vegetables, and 25% cheaper for livestock products compared to large supermarkets. On the other hand, some processed products (songpyeon, wheat flour, glutinous rice snacks, etc.) were relatively cheaper at large supermarkets.

The purchase cost at Garak Mall, located in Garak Market with low cost prices, was 215,600 KRW, which is 9% and 23% lower than traditional markets and large supermarkets, respectively.

In the case of Garak Mall, prices of wild plants (jujube, chestnut), wild greens (bracken), dried seafood (dried pollack), livestock products (eggs, chicken), and other processed foods were particularly cheaper compared to other purchase locations.

The price outlook for agricultural, livestock, and marine products this Chuseok (based on Garak Market) expects stability due to government policies to expand the supply of seasonal items and stabilize prices. However, recent abnormal weather phenomena such as heavy rains and high temperatures have negatively affected the production conditions of fruits and vegetables, so some items are expected to be stronger in price compared to normal years.

Fruits

Apples and pears are expected to see strong prices due to poor production conditions and decreased yields caused by adverse weather conditions such as low temperatures and hail damage during the growing season and concentrated heavy rains in summer.

Dried persimmons are expected to have slightly weak prices as the production and storage volumes are sufficient due to good raw persimmon harvests.

Vegetables

Radish and cabbage have unstable growth due to heat waves, resulting in significantly reduced marketability, but stable prices are expected due to increased shipments timed for the Chuseok peak season.

Zucchini is expected to have strong prices as poor production conditions caused by heat waves and rainfall have led to poor pollination, increased decay rates due to insufficient pest control, and decreased shipment volumes.

Spinach production is expected to be difficult due to hot and humid temperatures, leading to a slight decrease in shipment volumes. However, supplies from the main shipping area, Pocheon in Gyeonggi Province, are expected to increase from mid-September, recovering prices to normal levels.

Livestock Products

Beef prices are expected to decline compared to the previous year due to increased slaughter numbers and increased supply during the Chuseok peak season, but factors such as increased demand for alternative gift sets (fruits and seafood) and the relaxation of the gift value limit for agricultural and livestock products (from 200,000 KRW to 300,000 KRW) may cause price fluctuations.

Pork prices are expected to remain similar to last year as slaughter numbers are comparable.

Chicken prices continue to be strong due to supply shortages caused by damage to broiler farms from concentrated summer heavy rains and typhoons. Egg prices are expected to remain slightly weak as supply in September is sufficient.

Seafood

Pollock and squid are expected to have stable supply volumes as imports and production are favorable, but yellow croaker production remains low compared to the previous year due to typhoon impacts despite the lifting of the fishing ban.

Seafood consumption sentiment has been significantly dampened due to the discharge of contaminated water from Fukushima, Japan, and an overall decline in seafood prices is expected.

However, efforts are being made to stabilize prices by securing pre-stocked major seafood items before the Chuseok peak season and expanding sourcing regions to areas with lower radiation risks (such as the Atlantic and Mediterranean).

Considering the high price volatility of seasonal Chuseok items, the corporation plans to provide continuous updates on prices and transaction trends of major consumer items on its website until the Chuseok holiday. Additionally, various content such as transaction trends of Chuseok seasonal items at Garak Market (Garak Mall) will be offered through the corporation’s YouTube channel.

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