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As Chuseok festival is approaching

South Koreans faced with skyrocketing food prices

Chuseok -literally "Autumn eve"- is a major harvest festival and a three-day holiday in both North- and South Korea. For this year’s festival, many South Koreans are rethinking their holiday choices, as food prices are skyrocketing. At the moment, it costs about 50,000 to 70,000 won to prepare a family meal.  

According to data collected by Korea Price Information, traditional offerings for ancestors —including a wide variety of fresh foods— cost about 270,500 won at a traditional market, up 16.5 percent from last year. At a supermarket, it would cost 404,730 won, a 24.7 percent jump. 

 "The prices of chestnuts rose due to the reduced amount of imports amid Covid-19. Also, a lot of chestnuts fell to the ground because of the typhoons,” a spokesperson for Korea Price Information said. “This summer’s long downpour and scorching heat wave caused volatility in vegetable prices. The prices of beef, pork and rice also soared.” 

Koreajoongangdaily.joins.com cites the Korea Agro-Fisheries & Food Trade Corporation saying that the price of Napa cabbage on Tuesday was about 9,738 won, a 99 percent increase compared to the same period a year earlier. The price increased 58 percent over the last month. 

[ 100 won = € 0,071 ]


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