The South Korean government is partnering with food makers and retailers to offer steep discounts on grocery staples this summer, aiming to ease the burden of rising food prices.
Shoppers can save up to 50% on popular items like ramen, kimchi, bread, coffee, and ice cream at major supermarkets and convenience stores through July and August. The South Korean Ministry of Agriculture, Food and Rural Affairs said it met with about 15 major food producers on July 4 to finalize the program.
Major Korean food companies, including instant noodle makers Nongshim, Ottogi, and Paldo; bakery group SPC; coffee and beverage supplier Dongseo; dairy brand Namyang; and food conglomerates CJ and Daesang, are offering promotions through online stores and retail partners, with a mix of price cuts, “buy one get one free,” and “two‑for‑one” deals. Large retailers such as E‑Mart, Lotte Mart, and Homeplus are also participating, with discounts on seasonal dishes like samgyetang and naengmyeon, as well as picnic staples like ramen, snacks, and beer.
The campaign comes as processed food prices in June rose 4.6% from a year earlier, the fastest pace since November 2023. Officials said the discounts are part of broader efforts to stabilize prices and ease pressure on households, a pledge reiterated at a policy meeting on July 6.
Industry insiders said the timing of the discounts and the government’s cash payments, which begin July 21, appears to be coordinated to boost summer spending. The payments, worth $109 to $329 per person depending on income and region, are intended to spur demand. Retailers are believed to have adjusted their promotions to align with the payouts.
Officials hope the combined measures will support household spending and ease inflationary pressure.
