"Paying 20,000 Won for a Book I'll Only Read Once Feels Wasteful"... Secondhand Bookstores Draw Crowds [Jumoney Talk]

Average Book Price Reaches 19,526 Won Last Year
Rising Book Prices Increase Consumer Burden Each Year
Demand for Secondhand Bookstores and Used Book Trading Grows

Citizens visiting Kyobo Bookstore Gwanghwamun branch in Jongno-gu, Seoul, are reading books. Photo by Kang Jinhyung aymsdream@

Editor's NoteWe are living in a time when a single serving of samgyeopsal costs 20,000 won and a bowl of jajangmyeon is 7,500 won. The Consumer Price Index for 2024 stands at 114.18 (2020=100), and in 2025, the ongoing impact of high inflation continues to increase the burden on consumers' wallets. Through the "Jumoney Talk" (Week+Money+Talk) series, we aim to share stories about consumption closely tied to our financial circumstances, as prices fluctuate from moment to moment.

As the average price of new books approaches 20,000 won, more people are feeling the burden of book prices. In particular, the steadily rising prices each year have led to a consistent demand for used books, which are cheaper than new ones. Secondhand books are often reasonably priced and in good condition, making them an attractive option for consumers who value practicality.

The Era of 20,000 Won Books Has Arrived... Up 19% in Four Years

According to the "2024 Korea Publishing Production Statistics" recently released by the Korean Publishers Association, the average price of new books last year was 19,526 won. This represents a 4.8% increase from the previous year (18,633 won). The average price of new books has continued to rise each year since reaching 16,420 won in 2020, marking an 18.9% increase over four years. By category, social science books had the highest average price at 26,675 won, followed by technology and science (25,133 won), history (24,955 won), and arts (24,630 won).

The reading rate remains low. According to the "2023 National Reading Survey" released last year by the Ministry of Culture, Sports and Tourism, only 43% of adults read at least one book per year. This means that 6 out of 10 adults did not read any form of book?whether print, e-book, or audiobook?over the course of a year.

Interest in print books is declining even further. The average number of books purchased by adults was 1.0 print book and 1.2 e-books. Even among readers who had purchased books, the number of e-books and audiobooks purchased (7.7 each) was more than double that of print books (3.7). There was also a significant reading gap based on income. The reading rate for high-income earners with a monthly income of 5 million won or more was 54.7%, while for low-income earners with a monthly income of 2 million won or less, it was only 9.8%.

Rising Book Prices Drive Up Demand for Used Books

A citizen is selecting a book at Kyobo Bookstore Hapjeong Branch in Mapo-gu, Seoul. Photo by Jinhyung Kang aymsdream@

As book prices increase, secondhand bookstores that buy and sell used books are gaining attention as a new consumption alternative. These bookstores purchase books owned by citizens and resell them at prices lower than the original retail price. Typically, used books are sold at prices 30-40% lower than the original price, and bookstores make a profit from the difference between the purchase and sale prices. As more people seek to buy books cheaply and resell books they have already read, secondhand bookstores are increasingly being recognized as a rational place for consumers to shop.

Amid this trend, major online bookstores are also operating secondhand bookstores. Aladin has operated 57 secondhand stores nationwide since opening its Jongno branch in Seoul in 2011, while Yes24 has four stores, starting with its Gangnam branch in 2016.

Lee Yunkyung (31), an office worker, recently purchased the book "Bangguseok Misulgwan" by author Jo Wonjae at a secondhand bookstore for 11,250 won, about 33% cheaper than the original price of 16,800 won. Lee said, "Because book prices are burdensome, I mainly buy used books rather than new ones," adding, "Even among used books, many are in almost new condition." Lee continued, "Since I usually don't reread books after finishing them, I don't feel the need to buy new ones," and added, "I first read books as e-books, and if a book leaves a strong impression, I keep a used copy."

Demand for secondhand books is evident not only at secondhand bookstores but also on secondhand trading platforms. On platforms like Danggeun, it is easy to find listings for children's and youth books or fairy tales. One user sold 101 children's fairy tale books for 20,000 won, stating, "Some books are worn from frequent reading, but most are in good condition," and added, "These days, a single fairy tale book costs over 10,000 won, so take these at a bargain."

Lee Eunhee, a professor of consumer studies at Inha University, said, "The size of the used book market is expected to grow even further," explaining, "As the number of single-person households increases, buying and storing books can become a burden, and the aversion to secondhand goods has decreased significantly compared to the past." She added, "From the consumer's perspective, used books are available at acceptable prices, which is a positive factor for market expansion," and noted, "Beyond economic benefits, the reuse of resources through secondhand books is also meaningful from the perspective of a circular economy."