By Lee Ho-jun

1st, Seochon in Jongno District, Seoul. With Chuseok approaching, the alleys were crowded with people, but only the rice cake shop was quiet. In past years, packing boxes were piled high or the display case was crammed with songpyeon, but this year it was empty. There was no smell of rice cakes being made, and no sound of machines. Over an hour, only three customers came by.

Here, a plate with 10 songpyeon, a representative Chuseok food, sold for 3,000 won. It was 2,000 won during last Chuseok, they said. The rice cake shop owner, a person surnamed Kwon (66), said, “As rice prices rise and rice cake prices go up as well, people are reluctant to buy rice cakes. Sales are less than half of what they used to be,” and added, “Back then I would be exhausted from making rice cakes during Chuseok ….”

◇ Rice prices jump 30% in a year… Namdaemun rice cake shop: “We raised prices four times this year”

A red light has come on for Chuseok ritual table prices. Rice prices have surged, and other ritual items have also become more expensive. Merchants said, “The cost of materials and supplies has risen so much that we’re about to close up shop,” and some citizens responded, “Rather than spend money on the ritual table, we’ll just eat out.”

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 3rd, as of the 29th of last month, the price of 20 kilograms of rice was 67,176 won. On the same day last year, it was 50,908 won. That is a 31.9% jump in a year. For 1 kilogram of glutinous rice, the price surged 70% in a year and was trading at 6,407 won as of the 29th of last month.

One cited reason for the surge in rice prices is that frequent rain this summer delayed shipments of early-maturing rice, which is released to the market as new-crop rice before Chuseok. A sack (80 kilograms) of early-maturing rice grown in Gangjin County, South Jeolla Province, exceeded 220,000 won. That is up 22% from last year (about 180,000 won).

Some say the government’s failed forecast also pushed up rice prices. The government, expecting rice prices to fall, purchased 260,000 tons of rice to “isolate it from the market.” Last year’s rice production was 3,585,000 tons, 56,000 tons more than this year’s rice demand, but the volume isolated from the market was large. The Democratic Party of Korea, then the opposition, also argued for measures such as “guaranteeing 200,000 won for rice.”

The surge in rice prices has been reflected in rice cake prices. Rice is the main ingredient of rice cakes, and typically about 30% of the rice cake price is rice. On the afternoon of the 1st, an employee, identified as A, at a rice cake shop in Namdaemun Market said, “We raised prices four times just this year,” adding, “Even a 500-won increase makes customers feel a heavy burden. Customers who used to buy in bulk have almost disappeared; everyone buys just a little.”

A shop owner, identified as B, at a rice cake shop in Seongdae Market, a traditional market in Sangdo-dong, Dongjak District, said, “Not only rice prices but also labor, electricity bills, and rent have all risen by at least 15%. But if we raise rice cake prices even a little, customers stop coming,” adding, “It’s the holiday, but this is the first time we’re seeing no holiday boost at all.”

C, who runs a rice store nearby, also said, “Mixed grains are up 10%–20%, and rice is up even more,” adding, “Customers still buy because they have to hold ancestral rites, but everyone says ‘it’s too expensive’ and buys less than before.”

◇ “It’s hard to make, expensive, and we won’t even be able to eat it all”… Steak instead of the ritual table

The burden on consumers preparing for Chuseok is growing. A housewife, a person surnamed Kim (61), who lives in Songpa District, Seoul, said, “It’s not just rice and rice cakes that have gone up—fruit, meat, and fish have all risen. Since August, every time I shop the burden has grown, so I’ve been cutting back,” adding, “This Chuseok, I plan to buy only what’s absolutely necessary, and only a little.”

Some families chose “steak dining out” instead of a ritual table. A housewife, a person surnamed Kim (50), who lives in Namyangju, Gyeonggi Province, said, “Ahead of this Chuseok, our family asked, ‘With prices up like this, is there really any need to set a ritual table that’s hard to make and we won’t even be able to eat?’” adding, “So our whole family decided to pool our money and cut into steaks at a family restaurant. I’m looking forward to it as a new experience.”

The Korea Price Information Corp. estimated that setting a Chuseok ritual table this year would cost 373,500 won at big-box stores. Even after a family of four in the Kim household orders the top-tier “steak set for four” at a family restaurant, 100,000 won will be left. Kim said, “We might even try some Korean beef.”

Published Date: October 3, 2025