Last year, fruits and vegetables led the list of items with the steepest price increases in South Korea. Data from the Korean Statistical Information Service (KOSIS) highlighted that pears experienced the highest price surge among 458 surveyed consumer items, with a 71.9% increase. This rise was attributed to inventory shortages and reduced shipments caused by adverse weather conditions in 2023.
Tangerines followed with a 46.2% price hike, influenced by increased demand as substitutes for apples and pears, along with poor harvests in the latter half of the previous year. Other fruits like persimmons and apples saw price increases of 36.6% and 30.2%, respectively, also due to weather-related damages. Vegetables such as cabbage, radishes, tomatoes, and carrots experienced price rises ranging from 20.9% to 25.0%.
Source: ChosunBiz