South Korea: Supermarkets, Chuseok Korean beef gift set price cut by up to 10% compared to last year

As large marts all cut the price of Korean beef gift sets for Chuseok this year, sales are expected to increase significantly. In particular, it was found that the Korean beef industry is expecting a reflective profit, as the price of Chuseok Korean beef gift sets has been lowered and the price of main holiday gift sets such as fruits has risen, in a situation where there is a lot of backlog because they cannot enjoy the special holiday season. Large marts such as E-Mart and Lotte Mart announced that they have lowered the price of gift sets for Chuseok this year by up to 12% compared to last year, the first time in five years. The biggest price cut was Lotte Mart, which lowered the price of meat sets, its flagship product, by 12% from last year. Lotte Mart plans to target Chuseok this year with the concept of price stability by lowering the price of all Korean beef gift sets by an average of 7% in order to benefit consumers as the price of Korean beef has decreased. An official ...