Distribution Industry and Government Tackle Prices... 20% Discount on Cabbage, Radish, and Eggs

Ministry of Agriculture and Ministry of Oceans Budget Increased 1.76 Times
Originally Scheduled to Start on the 28th
Advanced to the 15th Starting with Large Supermarkets
Cabbage, Radish, and Eggs 20% Discount

Due to the spread of highly pathogenic avian influenza (AI), the price of a carton of eggs has surpassed 6,000 won. According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 11th, the retail price of a carton of eggs was recorded at 6,082 won as of the 8th. As the spread of AI shows no signs of slowing, concerns are rising that the prices of chicken and eggs, which affect meal costs, may increase further. Citizens are seen examining eggs at a large supermarket in Seoul on the same day. Photo by Moon Honam munonam@

[Asia Economy Reporter Cha Min-young] As prices have surged since the beginning of the year, increasing public anxiety, the government is hastening the agricultural, livestock, and seafood consumption coupon campaign. Originally scheduled to start on the 28th, the timing has been moved up by about two weeks, focusing on large supermarkets such as E-Mart and Lotte Mart, applying discount rates first to napa cabbage, radish, and eggs in consideration of the recent price surge.

Budgets for the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries Both Increased↑

According to related industries on the 16th, this year’s budget for the agricultural product consumption promotion program 'Let's Go for Korea Farm Discounts' conducted by the Ministry of Agriculture, Food and Rural Affairs together with the distribution industry increased from 40 billion won last year to about 76 billion won. The Ministry of Oceans and Fisheries’ seafood promotion budget rose from 20 billion won last year to 29.6 billion won. The seafood promotion will be held a total of eight times, and for the Lunar New Year event, yellow corvina, dried yellow corvina, anchovies, eel, and red sea bream were designated as common discounted items. This event was successful thanks to efforts to alleviate the difficulties faced by farming households and fishery workers last year.

The participating distributors have also diversified. Last year, a total of 14 companies participated, including offline large supermarkets and online malls, and traditional markets and small-to-medium-sized supermarkets were linked with Seoul’s 'Zero Pay.' This year, eco-friendly stores, local food direct stores, traditional markets, and small-to-medium-sized supermarkets were selected through a prior contest and directly allocated support budgets. The Ministry of Oceans and Fisheries is recruiting seafood-related startup companies and consumer cooperatives for large supermarkets and shopping malls.

'Let's Go for Korea Farm Discounts' Moved Up by Two Weeks... E-Mart and Lotte Mart

The 'Let's Go for Korea Farm Discounts' event, originally scheduled to start on the 28th, will now begin about two weeks earlier. Eggs, which suddenly rose in price due to avian influenza (AI), are a representative example. Radishes, whose prices surged due to frequent cold waves and heavy snowfall in winter, and napa cabbage, which faced decreased consumption due to COVID-19 causing difficulties for farming households, were also selected as discount items.

E-Mart will offer discounts on about 50 types of eggs. When purchasing eggs with Shinsegae Points accumulation, customers can receive a 20% discount on the selling price. Radishes will also be sold at a 20% discount when accumulating Shinsegae Points. Napa cabbage will similarly be sold at a 20% discount with Shinsegae Points accumulation. At Lotte Mart, L.Point members paying with seven major cards including Lotte, Shinhan, and Hyundai will receive a 20% discount. During the event period, eggs will be discounted by 20%, and napa cabbage and radish will be sold at a 20% discounted price of 1,260 won each. Egg purchases are limited to three trays per person, and the maximum discount limit per person, including napa cabbage and radish, is 10,000 won.

Instant Discounts at Large Supermarkets... Discount Coupons for Online Shopping

Consumers shopping at large supermarkets equipped with Point of Sale (POS) systems can receive a 20% discount immediately at checkout. When using online shopping malls, a pre-issued discount coupon of 2,000 won per 10,000 won spent is provided. The total discount amount per person is 10,000 won.

Expectations are high as the distribution industry anticipates a big market. Major companies including the three supermarkets E-Mart, Homeplus, and Lotte Mart, as well as most major online malls such as GS Retail, Naver, Market Kurly, and Oasis Market, are expected to participate. A distribution industry official said, "By increasing direct support targets, it is expected to greatly help small and medium-sized distributors," adding, "It is also expected to contribute to stabilizing the recently soaring prices by effectively lowering real prices by about 20%."