Jeju Prices Rise Back to the 3% Range... ‘10% and 20,000 Won’ Returned for Chuseok Shopping

【Financial News, Jeju = Yong-bok Jeong】 Ahead of Chuseok, Jeju’s consumer price inflation rate rose back into the 3% range after just one month. Jeju Special Self-Governing Province plans to ease the burden of grocery shopping by expanding rewards for its local currency and refunds on agricultural, livestock, and fishery products purchased at traditional markets. It also aims to channel Chuseok and Korean National Sports Festival spending into local commercial districts.
According to Jeju Special Self-Governing Province and the Jeju Office of the Honam Regional Data Agency under the Ministry of Data and Statistics on the 8th, consumer prices in Jeju rose 3.1% in August from a year earlier. The rate increased by 0.2 percentage points from 2.9% in July, returning to the 3% range after one month. Living prices also rose 3.1% year on year.
Grocery prices moved in different directions depending on the item. Overall prices for agricultural, livestock, and fishery products fell 1.0% from a year earlier, but mackerel rose 23.8% and rice increased 9.0%. By contrast, apple prices fell 10.3% and tomato prices dropped 28.7%. The figures showed item-by-item price differences that were difficult to capture through the overall agricultural, livestock, and fishery product index alone.
Since the 5th, Jeju Special Self-Governing Province has raised the monthly spending limit eligible for Jeju Pay’s 10% point rewards from 700,000 won to 1 million won. The expanded limit will remain in effect through October 31.
The reward rate remains 10%. Consumers who spend 1 million won in a month at eligible merchants can receive up to 100,000 won back in points. This is 30,000 won more than the previous monthly maximum of 70,000 won. Consumers who reach the limit in both September and October can earn up to 200,000 won over the two months.
An additional traditional-market refund benefit will be available during the Chuseok shopping period. In cooperation with the ‘2026 Chuseok Agricultural and Livestock Product Discount Support Program’ promoted by the Ministry of Agriculture, Food and Rural Affairs (MAFRA) and the Korea Agro-Fisheries & Food Trade Corporation (aT), Jeju Special Self-Governing Province will operate an Onnuri Gift Certificate refund event at 10 markets across the province from the 16th to the 20th.
Consumers who purchase domestic fresh agricultural, livestock, and fishery products worth at least 34,000 won but less than 67,000 won at participating stores will receive a 10,000-won Onnuri Gift Certificate. Those who spend 67,000 won or more will receive 20,000 won. The refund limit is 20,000 won per person for the event period.
The participating markets are Dongmun Traditional Market, Seogwipo Maeil Olle Market, Moseulpo Central Market, Boseong Market, Gwangyang Market Alley-Type Shopping District, Hwabuk General Market, Seomun Public Market, Jeju City Traditional 5-day Market, Seogwipo Hyangto 5-Day Market, and Hallim Traditional 5-day Market. The number was expanded from six to 10, taking into account the opening dates of the 5-day markets and consumer convenience. Visitors should check each market’s operating hours, refund location, and participating stores before going.
Jeju Pay rewards and traditional-market refunds are applied differently. Jeju Pay applies 10% to the actual amount paid at eligible merchants, while the traditional-market refund is based on purchases of domestic fresh agricultural, livestock, and fishery products at participating stores. Consumers should therefore check in advance whether the store and items they plan to use or purchase qualify for the benefits.
Jeju Special Self-Governing Province is also focusing its policy efforts on turning visitor demand generated by the National Sports Festival for the Disabled and the Korean National Sports Festival, which follow Chuseok, into local spending.
On the 7th, Wi Seong-gon, Governor of Jeju Province, chaired a weekly policy meeting at Tamna Hall in the provincial government office and instructed each department to use Chuseok, the National Sports Festival for the Disabled, and the Korean National Sports Festival as opportunities to stimulate consumption.
Wi emphasized, "We must ensure that people visiting Jeju use commercial districts throughout the neighborhoods so that the local economy can be revitalized in a meaningful way."


[email protected] Yong-bok Jeong Reporter