"At Least 70,000 Won"... Graduation Season Bouquets That Make Parents Cry [Chosun Price Records]

(49) Prices of Fresh Flowers such as Jangmi, Freesia, and Geobera Rise

Lee Seohyeong (50), a parent living in Songpa-gu, Seoul, was recently shocked when she saw the price of a bouquet she intended to buy for her child’s elementary school graduation ceremony. The bouquet, consisting of 10 to 12 fresh flowers, cost 70,000 won. Lee said, "I was thinking of a price around 50,000 won, but the flower prices went up, so I hesitated. It’s just for taking pictures briefly, but it’s too expensive," adding, "Since it’s a graduation ceremony, I couldn’t not buy it, so I reluctantly purchased it."

As flower prices continue to rise, the price of bouquets containing about 10 to 12 large and small fresh flowers reaches 70,000 won. Photo provided by the reader

As the graduation season begins in earnest, the rising prices of fresh flowers are increasing the financial burden on parents preparing congratulatory bouquets and gifts. Fresh flower prices have more than doubled compared to last month in some cases, and the price range of popular entrance and graduation gifts among students has also risen.

The prices of popular bouquet components such as roses, freesias, and gerberas have risen significantly compared to last month. According to the Korea Agro-Fisheries & Food Trade Corporation (aT) flower distribution information on the 11th, the auction price of one bunch of cut roses (flowers cut for sale) was 15,843 won as of the 6th, a 25.3% increase from 12,640 won a month earlier. The price of freesias, widely used in bouquets, also rose from 3,178 won last month to 4,666 won this month, a 46.8% increase. Gerberas more than doubled in price, rising from 5,038 won last month to 11,340 won within a month.

The rise in fresh flower prices is due to the surge in bouquet demand during the graduation season. According to the '2023 Flower Cultivation Status' announced by the Ministry of Agriculture, Food and Rural Affairs last month, the average annual price of roses in 2023 was 8,532 won per bunch. During months with many events such as graduations, rose prices spike, with prices in January-February and December reaching 10,629 won, 13,982 won, and 12,727 won respectively, all higher than the annual average.

Increased production costs due to inflation are also a reason for the rise in flower prices. Farmers use electricity and fuels such as diesel and kerosene as heating sources for flower cultivation, and as energy prices have risen, the cost of flower cultivation has increased. In particular, the price of tax-exempt agricultural kerosene, widely used by flower farmers, has not traded below 1,000 won per liter (ℓ) since February 2022.

As fresh flower bouquet prices rise, more people are seeking alternatives. ‘Preserved flowers,’ treated with special preservation solutions to last a long time, are generally more expensive than fresh flowers, but recently their prices have become similar due to the increase in fresh flower prices. Moreover, preserved flowers can last more than three years, earning praise for their cost-effectiveness compared to fresh flowers, which wilt quickly.

There has also been an increase in cases where flowers used after graduation ceremonies are resold secondhand. On the secondhand trading platform Danggeun, posts offering graduation bouquets at affordable prices of 20,000 to 30,000 won with notes like "only took pictures" are appearing continuously.

Meanwhile, entrance and graduation commemorative gifts are also becoming a burden for parents. Recently, among teenagers, there has been a growing preference for IT devices such as smartphones and tablet PCs, which can cost tens to hundreds of thousands of won, as entrance and graduation gifts. Apple's iPad Mini A17 Pro (128GB, Wi-Fi) costs 749,000 won, and Samsung Galaxy’s Tab S10 Ultra (Wi-Fi) is priced at 1,341,000 won based on Samsung’s website promotional price.