KOREA
Traditional Korean holiday meal on table

(Photo courtesy of haps Magazine Korea)

This year’s Lunar New Year ancestral rite table costs for a family of four are expected to fall slightly, according to Korea Price Information.

Traditional market shopping is estimated at about 296,500 won, down 1.98% from last year, while major supermarkets average around 406,880 won, a 0.64% decrease.

The overall drop is mainly due to lower fruit and vegetable prices.

A set of three pears fell sharply from 27,000 won to 18,000 won, while 440 grams of jujubes dropped 25% to 6,000 won. Radishes declined from 4,000 won to 3,000 won, and napa cabbage also became cheaper in both markets and supermarkets.

However, several key items have increased, including apples, croaker, eggs, and rice based products.

Imported seafood prices rose due to higher costs linked to external factors, with Chinese croaker up 25% to 15,000 won.

Rice cake items such as tteokguk rice cakes and sirutteok also climbed. Cold weather may push prices back up.

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