"Kimchi-Making Cost for a Family of Four 23% Cheaper Than Last Year"

Emart Reports 172,010 KRW for Kimchi-Making Costs for 4 People This Year, Down 23% YoY
Cabbage at 1,500 KRW Each, Radish at 700 KRW Each... 40% Lower Than Average Retail Price
Red Pepper Powder 27% Cheaper... Discount Event on Special Boiled Pork for Kimchi Season

An Emart employee is organizing napa cabbages at the cabbage display (Photo by Emart).

[Asia Economy Reporter Yuri Kim] Emart announced that it will hold a discount event on kimchi-making ingredients from the 24th to the 30th for those who make kimchi themselves during the kimchi-making season.

Key ingredients for kimchi-making season such as napa cabbage, radish, peeled garlic, and green onions will be offered at a 20% discount through discount coupons from the Ministry of Agriculture, Food and Rural Affairs. Despite the high market price, red pepper powder will be sold about 27% cheaper than last year.

Emart stated that during the event period, a family of four can purchase kimchi-making ingredients for about 170,000 KRW. This is approximately 23% cheaper than the same period last year. It is also about 21% cheaper than the kimchi-making cost for a family of four (215,037 KRW) announced by the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 17th.

The main ingredient napa cabbage is sold in a 3-piece package at around 4,700 KRW with a 20% discount when accumulating Shinsegae points, and radish is sold in a bundle of 5 to 6 pieces at around 3,900 KRW with a 20% discount.

When converted to a unit price per head or per piece, Emart’s napa cabbage and radish are priced at about 1,595 KRW and 797 KRW respectively. This is 47% and 67% cheaper than the average retail prices of 3,013 KRW for napa cabbage and 2,430 KRW for radish as of the 22nd, according to the Korea Agricultural Marketing Information Service (aTKAMIS).

Emart explained that the reason they can sell napa cabbage and radish at prices lower than the average retail price is because they quickly secured kimchi-making supplies through advance contracts with southern production areas such as Mungyeong in Gyeongbuk, Gochang in Jeonbuk, and Muan in Jeonnam in November to stabilize prices during the kimchi-making season, following the sharp price surge caused by typhoons and heavy rains in September and October.

In addition, Emart is also holding events on kimchi seasoning ingredients such as peeled garlic, green onions, scallions, pears, salted shrimp, and red pepper powder.

Peeled garlic (300g), soil-grown green onions (400g), and pears (3kg) are sold at around 3,900 KRW, 3,000 KRW, and 7,900 KRW respectively with a 20% discount when accumulating Shinsegae points, while soil-grown scallions (800g) and salted shrimp (2kg) are priced at around 3,200 KRW and 16,800 KRW respectively.

This year, Emart made efforts to lower the price of red pepper powder, which accounts for about one-third of the total kimchi-making cost. The domestic red pepper powder product "Chinjeong Eomma" (500g) is sold at around 13,900 KRW, which is about 27% cheaper than the domestic red pepper powder price during the same period last year.

Despite the poor chili pepper harvest this year causing the wholesale price of dried chili peppers, the raw material for red pepper powder, to rise by 15-20% compared to last year since September, Emart explained that they lowered the product price through prior negotiations with partner companies during July and August when red pepper powder prices were low.

In this way, Emart prepared napa cabbage, radish, and red pepper powder, which make up about 55% of the total kimchi-making cost, especially cheaply through support from the Ministry of Agriculture, Food and Rural Affairs discount coupons, advance contracts, and consultations with partner companies for the kimchi-making season.

They are also holding an event on pork for boiled pork slices, an essential delicacy during the kimchi-making season. Brand pork shoulder and hind leg cuts are offered at a 20% discount from the regular price when accumulating Shinsegae points.

Kim Donghyun, Emart’s vegetable team leader, said, "As the kimchi-making season begins in earnest, we have mobilized all available resources such as discount coupons from the Ministry of Agriculture, Food and Rural Affairs to stabilize the prices of kimchi vegetables. We planned the kimchi-making event together with buyers of red pepper powder and boiled pork to enable the best shopping experience for the kimchi-making season at Emart."