South Korea: Will the cost of kimchi be lowered?

Published 2023년 11월 9일

Tridge summary

A recent investigation by the Korea Agro-Fisheries and Food Trade Corporation (aT) found that the cost of making kimchi this year is expected to be lower than the previous year. The decrease in cost is attributed to the government's investment in supporting kimchi ingredients, such as stockpiles and price reductions at supermarkets. The price of cabbage, the main ingredient of kimchi, has shown a downward trend due to the increased supply from government stockpiles and is expected to further increase as the shipping area expands.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Click to enlarge It is expected that the burden of kimchi making costs this year will be lower than the previous year. Korea Agro-Fisheries and Food Trade Corporation (aT) investigated the cost of kimchi making this year (6 days, based on 20 heads of cabbage) and found it to be 218,425 won, compared to the first half of the same month last year (24 days ago). It was announced on the 9th that it decreased by 9.4% compared to 1,119 won. Compared to the same month of the previous year, it fell by 2.3%. The construction showed the effect of the government investing 24.5 billion won in financial resources to support kimchi ingredients using stockpiles, support for supply price reductions at large supermarkets, and support for discounts on agricultural and marine products. This survey was conducted at 16 traditional markets and 34 large distribution companies across the country on 14 major kimchi ingredients. Looking at each item, radish retail prices fell 45.1% compared to the previous ...

Source: Donga