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

South Korean housewife 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.

“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.

“But we can’t skip these essential items for the Seollal charye,” Kim said.

According to news reports, a standard basket of top-quality fruits given as a Seollal gift sells for 150,000 won on average at department stores, comprising a 20,000 won (US$15) apple, a 20,000 won pear, a 45,000 won shine muscat, a 20,000 won mango, a 25,000 won apple mango, and a 20,000 won Cheonhyehyang tangerine.

Cho Mi-hark, 66, said quality apples and pears had almost doubled in price recently while vegetable prices had also surged. In comparison, meat prices remained stable compared with a year earlier, Cho added.

Seollal falls on February 10 this year, with Koreans enjoying four consecutive holidays from February 9 to 12.

Many of them visit hometowns for family reunions, feasting, playing board games such as yut, and paying respects before their ancestors’ tombs. Children also receive cash gifts on Seollal when they bow to adults.

Apart from grocery shopping to prepare for the holiday rites