Triple-digit pork belly prices at 700 won?..."We're Cheaper" Ignites 'Samsam Day' Ultra-Low Price War

Lotte Offers Samgyeopsal at 890 Won
E-Mart and Homeplus Counter with Prices in the 700-Won Range

On March 3rd, Samgyeopsal Day, a fierce price war for pork broke out in the distribution industry. The price of imported pork dropped to the 700 won range per 100g, creating an intense competitive atmosphere.

When Lotte Mart offered Samgyeopsal at 800 won per 100g, E-Mart responded with products priced in the 700 won range. Homeplus also launched Samgyeopsal priced in the 700 won range on the same day.

(This photo is not directly related to the article.) Pixabay

According to the distribution industry, E-Mart is selling U.S. and Canadian Samgyeopsal at 779 won per 100g until the 3rd. Domestic Samgyeopsal and pork neck are sold at 966 won per 100g. This price is about 18% lower than the price set during last year's 'SamSam Day (March 3rd)' sale event (1,180 won).

Earlier last month, Lotte Mart sold imported Samgyeopsal/pork neck (100g/Canadian and U.S. origin) at a special price of 890 won for L.Point members paying with event cards at all stores. Offering imported Samgyeopsal/pork neck in the 800 won range was the first time in Lotte Mart's history.

For this Samgyeopsal Day, Lotte Mart is offering a 50% discount on domestic Korean pork Samgyeopsal/pork neck (each 100g/refrigerated) when paying with event cards (Lotte, Shinhan, NH Nonghyup, Samsung cards).

On the 20th of last month, citizens visiting the Lotte Mart Seoul Station branch in Jung-gu, Seoul, purchased Canadian and American pork belly and neck meat, sold at 5,340 won per geun (600g). Photo by Yonhap News.

In response, E-Mart launched a direct price battle by offering prices more than 100 won cheaper than Lotte Mart. E-Mart declared that if price competition occurs offline within the industry during the event period, they plan to lower prices further.

E-Mart sold 'domestic first-grade selected pork Samgyeopsal/pork neck' at 966 won per 100g. They lowered the price by about 18% compared to last year's SamSam Day event price of 1,180 won per 100g and doubled the volume.

Homeplus also joined the price war with Samgyeopsal in the 700 won range. During the 'Homeplun is BACK' event, until the 1st, they offered 'Meokbo Dwae Samgyeopsal and Pork Neck' at 790 won per 100g, which caused a rush on the first day of the event on the 28th of last month.

Homeplus plans to sell Meokbo Dwae Samgyeopsal and pork neck at 990 won per 100g for the remaining period of the first week of the event until the 5th. They also plan to sell 'Handon Pomok Dwae Samgyeopsal and Pork Neck' (100g, limited to 2kg per person) at 990 won to My Homeplus membership members.

Convenience stores and department stores also joined the Samgyeopsal battle. CU launched five cost-effective refrigerated meat products and is running a promotion until the 3rd of next month. The products include domestic pork high pork Samgyeopsal (14,000 won) and pork neck (12,500 won), and Canadian barley-fed Samgyeopsal (11,800 won) and pork neck (10,400 won).

Coupang is offering over 100 products including Samgyeopsal, pork neck, and pork jowl at special prices until the 4th. They introduced 'domestic Korean pork Samgyeopsal' (refrigerated) starting at 1,776 won per 100g after a 52% discount, and some representative products offer an additional 10% discount when paying with event cards. Oasis Market offers various domestic Korean pork cuts including Samgyeopsal at up to 50% discounted prices.