Heatwave pushes Chuseok meal costs back above 300,000 won

Preparing a Chuseok memorial table for a four-person family will cost more this year as summer heatwaves push up food prices.

Korea Price Information said a recent survey put the cost at 302,500 won at traditional markets, 3,500 won, or 1.2%, more than last year. The same basket cost 397,700 won at large supermarkets, an increase of 6,350 won, or 1.6%.

The traditional-market cost had entered the 300,000-won range for the first time in 2022 and stayed there before falling to 299,000 won last year. It has returned to that range this year.

The survey attributed much of the increase to abnormal weather, including an intense summer heatwave, which raised prices across food ingredients. Livestock and marine products recorded particularly sharp increases, while Korean beef prices also rose at a double-digit rate, adding to the burden on holiday shoppers.