South Koreans shocked by spike in prices of Lunar New Year food items: ‘it’s too much’

Adverse weather in South Korea has caused a surge in prices of Lunar New Year items such as tangerines and apples

Some South Koreans are planning to skip the holiday season at home by travelling to Japan, Asean countries and other destinations

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South Koreans buy fruits and vegetables at the Namseong market in the Dongjak district in Seoul on February 7. Photo: Park Chan-kyong

Published: 8:00am, 9 Feb 2024Updated: 5:52pm, 9 Feb 2024

South Korean homemaker Kim Hee-hyun was shocked when she went to a local market for grocery shopping recently to prepare for a feast this Lunar New Year, despite being aware of news reports of rising food prices.

Extreme weather, including hail, cold snaps, heavy rain and typhoons have taken a toll on harvests, driving up prices of fruits and vegetables since South Korea’s fall harvest holidays, known as Chuseok, late last September.

“I knew prices would be higher this year, but this is too much,” the 62-year-old told This Week in Asia from the southern city of Gwangju, where agricultural products are supplied from crop-rich South Jeolla.

“Tangerines and apples have risen the most in price,” Kim said.

The rise in prices of agricultural products in January far outpaced the average consumer price inflation rate of 2.8 per cent, according to government data. Prices of apples rose 56.8 per cent, while that of pears and tangerines increased 41.2 per cent and 39.8 per cent, respectively.

As a result, South Korean housewives who are responsible for preparing the traditional prayer rite for ancestors, known as charye, are feeling the pinch. Families who wish to show respect for their ancestors on the South Korean Lunar New Year’s Day, known as Seollal, tend to buy prime products for the ritual.