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 customer from Nowon, who visited the market with her mother, said, "I came here to prepare for Chuseok, and it seems that the prices for vegetables are much cheaper than at large supermarkets."
According to Seoul's price information, Gyeongdong Market has prices for essential items set at 8,500 won for 100 grams of Korean beef, 2,000 won for 100 grams of pork, and 6,980 won for 1 kilogram of chicken. A basket of apples (five pieces) was selling for 10,000 won, and a single 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 government program allows customers to receive refunds of up to 30% (maximum 20,000 won per person) on purchases of domestic agricultural, livestock, and fishery products, which runs until September 20.
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 a bid to stabilize Chuseok grocery prices, the government has announced a record discount support package of 103 billion won, adding an additional 90 billion won from available budgets, and extending the discount period until September 30. The supply of holiday essentials will reach a record 183,000 tons, with vegetables like cabbage and radishes increased by 1.9 times, fruits like apples and pears by more than 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 popular fish species at discounts of up to 40%.
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, "With prices rising so much, the number of customers has dropped to half of last year's levels. 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.
Copyright ⓒ Aju Press All rights reserved.