Seol Charyesang Cost 316,023 Won... Fruit Prices Rose 16%

The Korea Consumer Agency announced on the 6th that the average cost of Charye table offerings increased by 5.1% to 316,023 KRW compared to the first survey conducted three weeks earlier (January 18-19, 300,717 KRW), following a price survey of Lunar New Year ritual items conducted on January 1-2, one week before the Lunar New Year holiday.

Customers are shopping at Hanaro Mart Yangjae Branch in Seocho-gu, Seoul. Photo by Jinhyung Kang aymsdream@

원본보기 아이콘

This survey covered 25 Lunar New Year ritual items across 90 markets in 25 districts of Seoul, 12 department stores, 25 large discount stores, 18 SSMs (Super Supermarkets), 19 general supermarkets, and 16 traditional markets.

By item category, fruit prices rose the most, increasing 16.1% from an average of 55,743 KRW to 64,699 KRW. Seafood followed with a 13.3% increase from 23,995 KRW to 27,193 KRW. Additionally, vegetables and wild edible plants rose 4.9% from 59,848 KRW to 62,753 KRW, and livestock products increased 1.6% from 104,620 KRW to 106,287 KRW. Items that saw price decreases included other foods such as yakgwa (traditional Korean honey cookies) and rice cake soup rice cakes, which fell 3.2% from 21,820 KRW to 21,132 KRW. Processed foods also declined by 2.1%, from 34,692 KRW to 33,959 KRW.

Among detailed ritual items, the product with the highest price increase was dried yellow corvina (chamjogi), which rose 45.1% from an average of 8,189 KRW to 11,883 KRW. This was followed by spinach (29.8%), apples (24.5%), pears (21.4%), and persimmons (10.6%).

By distribution channel, traditional markets were the most affordable with an average cost of 246,819 KRW. General supermarkets averaged 261,487 KRW, and corporate supermarkets (SSM) were also below the average purchase cost at 313,476 KRW. Large discount stores averaged 321,815 KRW, and department stores were the highest at 493,891 KRW. Among distribution channels, large discount stores showed the highest price increase rate of 8.0% compared to three weeks ago. Furthermore, fruit prices rose 21.0% at large discount stores but only 1.9% at traditional markets, showing a significant gap. Beef and seafood prices also increased by 16.4% and 13.8% respectively at large discount stores, whereas prices actually decreased at traditional markets, presenting a contrasting trend.

The Korea Consumer Agency advised, "There is a significant price difference in ritual items depending on the distribution channel, so active use of consumer information and price comparison is more necessary than ever." They added, "Since various discount events are ongoing, consumers should carefully compare prices rather than simply focusing on whether there is a discount to gain economic benefits."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.