"Half-Price Hanwoo Sale" Big Weekend Event at Major Marts

[Asia Economy Reporter Lim Hye-seon] Large discount events are being held by major supermarkets struggling due to the exclusion of emergency disaster relief funds usage by the government. Products ranging from sharply rising Korean beef to daily necessities are being sold at up to 50% off.

According to the distribution industry on the 6th, major supermarkets such as E-Mart, Lotte Mart, and Homeplus are conducting large-scale discount events. E-Mart has prepared inventory worth 20 billion won. Bananas, fried dumplings, detergent, and hair dye are sold as 1+1 deals. Diapers and refrigerated cold noodles offer a 50% discount when purchasing two items. E-Mart is issuing discount coupons worth a total of 2.9 billion won to customers using leased stores at 131 locations nationwide until the 15th, regardless of purchase amount. This aims to support small business owners in leased stores and boost sales.

Since the 4th, all Korean beef products have been discounted by up to 40%. The volume released during the event is about 70 tons, which usually takes 2 to 3 weeks to sell, equivalent to about 6 to 7 billion won in consumer prices. According to the Livestock Products Quality Evaluation Service's Livestock Distribution Information as of the 3rd, the consumer price of 1st grade Korean beef sirloin rose by 1,366 won from the previous day to 100,029 won per kilogram. Due to the impact of the novel coronavirus infection (COVID-19), demand for home-cooked meals has increased, and with more people purchasing Korean beef using disaster relief funds, Korean beef prices have soared.

Lotte Mart is also offering inventory worth 8 billion won at shock prices during the same period. Korean beef products of 1st grade or higher, whose prices have recently surged, are being sold at up to 50% off the regular price. As the weather gets warmer and demand for breathable disposable masks increases, Lotte Mart is also discounting domestically produced masks. They are selling 2 million masks at 580 won each. However, purchase quantities per person are limited.

Homeplus is holding the 'Sam-si-yuk-ki' promotional event until the 10th. They are selling major livestock products such as Korean beef at special prices and offering various fruits, convenient cold noodles, and ssamjang sauces, which go well with meat, at discounted prices.