"Traditional Market Lunar New Year Table Costs 13.4% Cheaper Than Large Supermarkets"

224,040 KRW at Traditional Markets, 258,854 KRW at Supermarkets
Up 1.0% and 2.5% from Last Year, Respectively
"Save More with Onnuri Gift Certificate Benefits"

This year, the cost of setting up a traditional market's Lunar New Year ancestral rite table was found to be 13.4%, or 34,814 KRW, cheaper than at large supermarkets. When purchasing the same items at Garak Mall adjacent to Garak Market, it was 17.1%, or 44,356 KRW, cheaper than at large supermarkets.

Ahead of the Lunar New Year holiday, as the cost of ancestral rites tables has risen due to abnormal weather conditions, a traditional market in downtown Seoul was bustling with visitors on the 13th. Yonhap News.

According to the results announced on the 20th by the Seoul Agro-Fisheries & Food Corporation, which surveyed a total of 25 locations including large supermarkets, traditional markets, and Garak Market (Garak Mall) in Seoul regarding the ‘cost of setting up a Lunar New Year ancestral rite table (purchase cost),’ the purchase cost at traditional markets this year was 224,040 KRW, while large supermarkets were 258,854 KRW.

The purchase costs at traditional markets and large supermarkets increased by 1.0% and 2.5% respectively compared to the previous year. Traditional markets were cheaper for fruits (pears, dried persimmons), forest products (jujubes, chestnuts), wild greens (bracken, bellflower root), vegetables (spinach, green onions, small napa cabbage), seafood (flatfish, kelp, pollock), livestock products (Korean beef brisket, pork, chicken), and processed foods (tofu, crab sticks, yakgwa). Large supermarkets were more competitive in apples, radish, Korean beef round, rice, and processed foods such as flour, dasik (traditional Korean cookies), cheongju (rice wine), and sikhye (sweet rice drink) compared to traditional markets.

The purchase cost at Garak Mall was 214,498 KRW, a 5.3% increase from the previous year, but it was 4.3% and 17.1% cheaper compared to traditional markets and large supermarkets, respectively. Compared to traditional markets and large supermarkets, Garak Mall was cheaper for green onions and jujubes, wild greens (bracken, bellflower root), seafood (pollock, kelp, dried pollack), livestock products (Korean beef round, pork, chicken, eggs), rice, and processed foods (flour, tofu, pancake mix, crab sticks, yakgwa, cheongju, etc.).

Moon Young-pyo, president of the Seoul Agro-Fisheries & Food Corporation, said, “Especially during the Lunar New Year holiday, if you use the digital Onnuri gift certificate, the discount rate increases from the existing 10% to 15%, and you can get up to 15% cashback on the payment amount, making it possible to shop more economically at traditional markets and Garak Mall.”

The corporation annually surveys and announces the purchase costs of 34 major seasonal items (based on a family of 6 to 7 members) that are in high demand for the holiday ancestral rite table. This survey was conducted on the 13th by 10 people, including the Seoul City Price Survey Monitoring Team and senior price survey workers from the corporation, who directly visited 16 traditional markets such as Yongsan-gu Yongmun Market, 8 large supermarkets including Lotte Mart, and Garak Mall located in Garak Market.

Regarding supply and demand trends, some fruit items are expected to form high prices due to reduced production caused by fruit drop and heat damage during the growing season’s high temperatures. Some vegetable items are also expected to see price increases due to reduced cultivation areas and poor growth caused by abnormal weather. Livestock products are expected to have stable supply with slight price increases compared to the previous year, and seafood supply is expected to be relatively stable during the Lunar New Year peak season due to government stock releases despite anticipated decreases in catch volume.

The corporation expects Korean beef prices to rise slightly due to factors such as a decrease in the number of slaughtered cattle, but pork supply is expected to remain stable. Prices of yellow croaker and pollock are on a declining trend due to decreased catch volumes caused by rising water temperatures from abnormal weather. The government plans to supply six popular fish species (squid, mackerel, hairtail, dried anchovies, including yellow croaker and pollock) more than usual to markets and supermarkets for the Lunar New Year and offer discounts of up to 50%.

To promote seafood consumption and stabilize grocery prices, the city will hold an event at Garak Mall from the 23rd to the 27th, where customers purchasing seafood above a certain amount will receive Onnuri gift certificates.

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