Half-Price Hanwoo Triggers Open-Run, But Consumer Sentiment Remains Frozen

[Anchor]

Large crowds of customers lined up early in the morning at a major discount store selling Hanwoo beef at half price. While the semiconductor industry is driving an economic boom, it still feels distant for average citizens, illustrating how difficult it is for people to open their wallets.

Reporter Kim Taewon has the story.

[Reporter]

A major discount store in Seoul.

A long line formed with customers engaging in an "open run"—lining up early to purchase desired items right when the doors open.

[Let us in. Please come in slowly.]

As soon as the doors opened, customers rushed straight to the meat section, targeting the half-price discounted Hanwoo beef.

[Yang Soon-ok / Eunpyeong-gu, Seoul: I got here at 9:30 and waited in line. You have to buy a lot when Hanwoo is on sale. It's much cheaper. At 50% off, it's a great deal.]

Despite the high discount rate, some shoppers hesitated to make a purchase because absolute prices have risen compared to a discount event held in April of last year.

[Kim Soon-ja / Eunpyeong-gu, Seoul: There is a sales effect. Housewives love buy-one-get-one-free deals. But meat is a bit different. Even with the sale, it still feels a bit expensive when it comes to Hanwoo beef.]

Even though the retail company lowered the price of Grade 1 beef to 6,000 won per 100 grams on its own, many customers were seen picking up packages only to put them back down.

Government statistics show that consumption decreased by 0.4% compared to the same month last year, marking three consecutive months of decline starting from July.

Additionally, production in restaurants and lodging businesses, which are directly tied to domestic demand conditions, recorded a 2.9% drop compared to the same month last year.

This is evidence that the warmth of the semiconductor boom has not reached the pockets of ordinary citizens.

[Kim Jung-sik / Professor Emeritus, Department of Economics, Yonsei University: Consumption is not only affected by production or income; higher interest rates increase the burden of interest payments. When living costs rise and disposable income shrinks, it becomes difficult to spend.]

The government stated that investments in sectors other than semiconductors are also increasing, but it seems more time will be needed for the warmth of the statistics to reach everyday people.

(Camera Reporter: Lee Moo-jin, Video Editor: Yoon Tae-ho, Design: Kim Ye-ji)
※ Please note: This article was translated by AI and may contain errors.