South Korea food prices rise as seafood catches fall before Chuseok

  • South Korean seafood and agricultural prices rose ahead of Chuseok as supply constraints met stronger holiday demand.
  • Spinach reached 2,216 won per 100 grams, up 64.39% monthly, while squid rose 15.4% year over year to 5,210 won per piece.
  • The Ministry of Oceans and Fisheries plans to release 20,000 tons of reserved seafood by September 27.

Food prices in South Korea are rising ahead of Chuseok, or Korean Thanksgiving, as reduced seafood catches, recurring high-temperature damage and stronger holiday demand constrain supplies. The Korea Agro-Fisheries & Food Trade Corporation (aT) said large chilled squid cost 5,210 Korean won per piece as of August 27, up 15.4% from a year earlier. Large chilled hairtail rose 7.8% to 14,171 won per piece, large frozen pollock increased 6.8% to 4,146 won, and imported mackerel climbed 31.6% to 11,606 won per handful. Squid production fell 28.7% year over year last month to 12,748 tons, while Norwegian-origin mackerel imports halved as local catch quotas declined annually. Farmed flatfish reached 22,800 won per kilogram in the third week of August, up 6.5% year over year. Agricultural products also rose: spinach reached 2,216 won per 100 grams on August 28, up 64.39% from a month earlier, while Napa cabbage and radish increased 34.05% and 25.59%, respectively. The Ministry of Oceans and Fisheries plans to release 20,000 tons of reserved seafood by September 27 to stabilize supplies.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.