Photo: Prime Minister Han Seong-suk (center) visits a traditional market. Credit: Office of the Prime Minister.
From September 24 to 26, South Korea celebrated chuseok 추석, the country’s most significant holiday. Although the government took aggressive measures to curb the cost of food during the mid-autumn holiday season, its efforts were only partially successful, and prices for key items like beef and pork remained stubbornly high.
The Ministry of Agriculture, Food and Rural Affairs 농림축산식품부 reported a year-over-year decline in prices for holiday staples like apples (-13%), pears (-3.3%) and chicken (-8.8%) thanks to the Ministry’s release of strategic reserves for key agricultural products. Prices rose for beef (18%), pork belly (8%) and eggs (7.9%) over the same time period despite government intervention.
