Up to 10-30% Discount Sales at Major Traditional Markets and Large Supermarkets
Ministry of Oceans and Fisheries: "Supplying Stockpiled Seafood to Stabilize Lunar New Year Prices"
[Asia Economy Reporter Moon Chaeseok] Prices of six types of seafood, including Pollock, will be discounted by up to 30% during the Seollal holiday. The government has decided to release reserved seafood to stabilize prices during the Lunar New Year holiday.
The Ministry of Oceans and Fisheries announced on the 20th that it will supply 10,879 tons of Pollock, mackerel, squid, hairtail, yellow croaker, and dried anchovies to the market.
The release quantities by item are 8,701 tons of Pollock, 297 tons of mackerel, 696 tons of squid, 484 tons of hairtail, 622 tons of yellow croaker, and 79 tons of dried anchovies.
Approximately 700g of Pollock will be sold for 1,800 KRW (15% discount), about 330g of deep-sea squid for 3,200 KRW (15%), about 500g of mackerel for 2,500 KRW (15%), about 90g of yellow croaker for 1,100 KRW (30%), about 300g of hairtail for 4,700 KRW (15%), and 1.5kg of processed dried anchovies for 13,000 KRW (10%).
The supply will be prioritized to traditional markets, large retail stores, and home shopping channels. Remaining quantities will be allocated to wholesale markets or through electronic bidding (B2B - business-to-business transactions).
The release of reserved stock began on the 18th. Consumers will be able to purchase these seafood products at large marts and other outlets as early as the 21st.
Meanwhile, since the 18th, the Ministry of Oceans and Fisheries has been conducting the "Korea Seafood Festival - Seollal Special" through online shopping malls. The event was organized to stabilize prices during the peak Lunar New Year season and to promote seafood consumption.
The event will be held at offline marts starting on the 21st. Yellow croaker (gulbi), anchovies, which have high demand during the holiday, as well as red sea bream and eel, whose prices have recently dropped at production sites, will be discounted by up to 50%.
The event involves eight offline marts including E-Mart, 15 online shopping malls such as Coupang, four consumer cooperatives, and four seafood startup companies including YamTable. Discount information by retailer can be checked on the event’s official website.
Im Taehoon, head of the Distribution Policy Division at the Ministry of Oceans and Fisheries, said, "In a situation where consumption has contracted due to the prolonged COVID-19 pandemic, we are promoting the release of government reserved stock and consumption promotion events to ease the burden of grocery prices on the public and expand seafood consumption."
Im added, "Through this, we hope our consumers can access high-quality fresh seafood at reasonable prices."
Main page of the Korea Fisheries Expo Online Planning Hall. (Source: Ministry of Oceans and Fisheries)
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