4-Person Family Kimchi-Making Cost Up 20%... Sejong 460,000 Won vs Gangwon 390,000 Won

Cabbage and Radish Prices Up Over 60% Compared to Last Year
Impact Due to Reduced Production from Heatwave Effects

As the prices of vegetables such as napa cabbage and radish soar, an analysis has emerged that this year's kimchi-making costs will be about 20% higher than last year.

According to a survey conducted by the Korea Price Association, a price research organization, on the 29th, the prices of 15 kimchi-making ingredients were investigated at traditional markets in 17 cities and provinces. The cost of kimchi-making for a family of four was 419,130 won, showing a 19.6% increase compared to one year ago. The price increase was mainly driven by the prices of the main ingredients, napa cabbage and radish, which rose by more than 60% compared to a year ago.

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The retail price of napa cabbage averaged 7,050 won per head, which was more expensive than the association's November forecast of 5,300 won. This is 61.1% higher compared to the price a year ago. The retail prices of radish and minari also rose by 65.9% and 94.5%, respectively, compared to a year ago. The current strong vegetable prices are due to reduced production caused by poor growth from the heatwave that lasted until last month.

On the other hand, the retail prices of seasoning vegetables such as green onions and ginger fell by 29.9% and 21.9%, respectively, compared to a year ago, and the price of red pepper powder dropped by 7.0%. This is because domestic supply is stable and imported quantities have also increased.

Looking at kimchi-making costs by region, Sejong was the highest among the 17 cities and provinces at 456,680 won, while Gangwon was the lowest at 385,760 won. Also, when purchasing kimchi-making ingredients at large supermarkets, the cost for a family of four was 521,440 won, about 100,000 won more expensive than buying at traditional markets.

This survey did not reflect government discount support. The government had previously announced measures to reduce consumer burdens during the kimchi-making season by lowering agricultural product prices by up to 40% and seafood prices by up to 50%, as well as increasing the supply of kimchi-making ingredients.

Additionally, the Price Association recently noted that napa cabbage prices have stabilized, and kimchi-making costs are expected to decrease further. The price of napa cabbage, the main ingredient for kimchi-making, dropped by 20% compared to two weeks ago. Ki-il Kim, head of the Living Price Team at the Price Association, said, "Although napa cabbage prices are still high, the supply and demand during the kimchi-making season are expected to be favorable due to the increased shipment of autumn napa cabbage," adding, "The burden is expected to ease somewhat after mid-next month, the peak kimchi-making season."