Reducing Shopping Cart Burden... Government Provides 'Record High' Supply and Discount Support for Essential Goods [Seol Holiday Measures]

2025 Lunar New Year Holiday Measures
265,000 tons of 16 Key Seasonal Products Supplied... 1.5 Times More Than Usual
90 Billion KRW Invested in Discount Support... Up to 50% Price Reduction

The government will implement the largest-ever supply of seasonal products and discount support to alleviate the burden on consumers' shopping baskets ahead of the Seollal holiday. It plans to monitor the supply and demand trends of seasonal products daily and provide additional supply to prevent price instability.

On the 9th, the government held a National Affairs Ministers' Meeting and Economic Ministers' Meeting chaired by Choi Sang-mok, Acting Prime Minister and Minister of Economy and Finance, and announced the '2025 Seollal Holiday Measures' containing these details.

Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, is speaking at the party-government meeting held at the National Assembly on the 9th to stabilize prices of Lunar New Year seasonal products and promote consumption. Photo by Kim Hyun-min

According to the government's forecast, the annual inflation rate for 2025 is expected to be 1.8%, lower than 2.3% in 2024, as upward pressure from suppliers such as international oil prices is relatively weaker compared to last year. However, prices of some agricultural products like pears, napa cabbage, and radishes remain high, and seasonal factors due to the early Seollal and base effects raise concerns about price instability at the beginning of the year. Therefore, the government will pursue consumer burden relief through the largest-ever discount support and expanded supply of seasonal products.

First, from the 7th to the 27th, during the three weeks before the Seollal holiday, the supply of 16 major seasonal products including napa cabbage, radishes, apples, pears, beef, pork, pollock, and squid will be increased to 265,000 tons. This is about 1.5 times the usual supply volume.

For agricultural products, government-held stocks of napa cabbage, radishes, apples, and pears will be significantly expanded up to 3.9 times the usual supply, and the introduction of tariff quotas on fruits will be implemented simultaneously. To stabilize the supply and demand of napa cabbage and radishes, which have high price levels, a total of 10,000 tons, about 1.8 times the usual amount including contract cultivation and stockpiles, will be supplied. Apples and pears, which are in high demand for gifts and ancestral rites, will be intensively supplied at 40,000 tons (5.6 times the usual amount) through designated shipments.

For livestock products, supply will be increased to 1.4 times the usual volume through expanded shipments by producer groups and weekend slaughterhouse operations. In particular, eggs will be supplied up to 1.8 times the usual amount. Popular fish species such as pollock and squid will be supplied directly to marts and markets from government stocks (11,000 tons) and sold at prices up to 50% cheaper than market prices.

Discount support to directly lower the perceived prices of seasonal products will also be carried out on the largest scale ever. A total of 90 billion KRW will be invested to reduce consumer purchase prices by up to 50%. Consumers can purchase major seasonal products at up to 50% discounted prices, with a maximum discount of 20,000 KRW per person per week depending on the retailer.

Additionally, agricultural and livestock discount vouchers (Nonghal) and seafood festival vouchers usable at traditional markets will be issued in larger quantities than usual and sold at 20-30% discounts. The on-site refund scale for Onnuri gift certificates will increase from 18 billion KRW last year to 27 billion KRW this year, and participating markets will expand by 75 locations. Digital (card-type and mobile) Onnuri gift certificates will have their discount rate temporarily increased from 10% to 15% from January 10 to February 10.

Gift set discounts will also be offered. Gift sets focusing on items with stable supply such as rice and Korean beef will be sold at up to 50% discounts, 100,000 fruit gift sets will be supplied at a 20% discount, and excellent products from companies in the National Food Cluster will be offered at discounts up to 76%.

The government will monitor supply and demand trends through a joint price stabilization task force (TF) involving related ministries and take immediate action such as additional releases if necessary. Furthermore, from January 17 to 31, during the Seollal holiday period, freight trucks transporting seasonal products will be allowed to enter major urban areas, and enforcement of origin labeling for agricultural and fishery products, including online sales, will be strengthened.

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