Ahead of Chuseok, major food companies will offer discounts of up to 64% on 4,765 items including instant noodles, dairy products, snacks, and beverages.
The Ministry of Agriculture, Food and Rural Affairs announced on the 8th that it held a meeting with representatives from major food companies at the Korea Food Industry Association to discuss measures for stabilizing processed food prices during Chuseok.
Twenty food companies are participating in this discount event. The target items include instant noodles and noodle products, tofu, kimchi and fermented soybean pastes, meat products, dairy products, snacks and snacks, beverages, and ready-to-eat meals—totaling 4,765 products. Discount rates vary by product, reaching up to 64%.
Nongshim will offer discounts of up to 34% on bagged and cup noodles, while Samyang Foods will offer discounts of up to 50%. Ottogi will offer discounts of up to 40%, and Paldo will sell products at prices up to 50% lower.
Items with high demand during the holiday season, such as tofu and kimchi/fermented soybean pastes, will also see price reductions. Tofu products will be discounted by up to 50%, kimchi and pickled vegetable products by up to 52%, and fermented soybean pastes by up to 58%. Dairy products will become up to 55% cheaper, while snacks, snacks, ice cream, and frozen desserts will be up to 50% cheaper. Some beverage products will be discounted by up to 64%.
The Ministry of Agriculture, Food and Rural Affairs urged the food industry to fully manage production and distribution during the peak season, alongside expanding discounts on processed foods and gift sets that see concentrated demand during the holiday. The government is also pursuing measures to reduce cost burdens through the application of tariff-rate quotas, support for raw material procurement funds, and regulatory improvements.
Plans to expand K-food exports were also discussed. The government and industry agreed to promote the development of new products tailored to local markets, expansion of global distribution networks, and marketing linked with Hallyu. Support will be strengthened for obtaining overseas certifications, expanding logistics infrastructure, and resolving customs clearance difficulties.
Mutual benefit measures to expand consumption of domestic agricultural products were also addressed. The plan aims to ensure that growth achievements in the food industry flow back to agriculture and local communities through the development of new products using domestic agricultural products, expansion of contract farming, and development of menus for restaurants and institutional cafeterias.
Jung Kyung-seok, Director of Food Industry Policy at the Ministry, stated, "The government will provide multi-faceted support to alleviate cost burdens on the industry and will continue to communicate with the food sector to simultaneously promote livelihood stability and expand the territory of K-food exports."
in ECONOMY
