On September 18, the Gyeongdong Market in Dongdaemun, Seoul, was bustling with customers pushing portable shopping carts to prepare for the Chuseok holiday. This area includes Gyeongdong Market, Cheongnyangni General Market, Cheongnyangni Fruit Market, Cheongnyangni Traditional Market, and Seoul Herbal Medicine Market, forming a large commercial district. The market was lively, with vendors calling out prices and customers haggling at the meat and fruit stalls.
A 27-year-old visitor from Nowon, identified as A, said, "I came to prepare for Chuseok, and it seems that vegetable prices are much cheaper here than at large supermarkets."
According to Seoul's price information, Gyeongdong Market has prices for essential items such as Hanwoo beef at 8,500 won per 100 grams, pork at 2,000 won per 100 grams, and chicken at 6,980 won per kilogram. A basket of apples (five pieces) was selling for 10,000 won, and a single chamoe melon was priced at 2,480 won. At Cheongnyangni General Market, Jeju tangerines were available for around 4,000 won for ten pieces.
As the burden of grocery prices increases ahead of Chuseok, traditional markets offer relatively lower prices for holiday essentials compared to large supermarkets. Additionally, a refund program for Onnuri gift certificates further reduces actual costs, making these markets popular. The government is running a program until September 20 that refunds up to 30% (maximum 20,000 won per person) for purchases of domestic agricultural, livestock, and fishery products using Onnuri gift certificates.
The Small Enterprise and Market Service conducted a price comparison of 28 Chuseok items across 37 traditional markets, 37 nearby large supermarkets, and two online platforms in the first week of September. The cost for a Chuseok table for four people was 352,553 won at traditional markets, 432,062 won at large supermarkets, and 370,367 won online. Traditional markets were 79,509 won (18.4%) cheaper than large supermarkets and 17,814 won (4.8%) cheaper than online platforms.
In an effort to stabilize Chuseok grocery prices, the government has announced a record 103 billion won in discount support, adding an additional 90 billion won from available budgets, and extending the discount period until September 30. A record 183,000 tons of holiday essentials will be supplied, with vegetables like cabbage and radishes increased by 1.9 times, fruits like apples and pears by over three times, and livestock slaughter and shipment volumes increased by 1.3 times, with eggs increased by 2.4 times. The government will also supply 20,000 tons of six popular fish species at discounts of up to 40% from its reserves.
Despite the increased activity in the market due to the holiday rush and government budget injections, merchants are not entirely optimistic. The summer heat has driven up the cost of fresh produce, and prolonged high prices have dampened consumer sentiment, significantly reducing the profits for vendors. Merchants are calling for more detailed support measures to alleviate the burden of rising costs and fixed expenses.
Ham Seung-cheol, a young merchant operating a nut store at Cheongnyangni General Market, stated, "Prices have risen so much that the number of customers has dropped to half of last year's level. I can't raise prices to reflect the increased costs of raw materials and supplies because consumers might hesitate to buy."
* This article has been translated by AI.
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