Asia Today | First Holiday After ‘Kim Young-ran Act’ Takes Effect… Lunar New Year Gift Set Trend Is ‘Value for Money’
Asia Today reported on January 9, 2017 that ahead of the first Lunar New Year holiday since the Improper Solicitation and Graft Act (the "Kim Young-ran Act") took effect, the food and dining industry was rolling out value-oriented gift sets priced at 50,000 won or less. The article introduced Cafe Ogada's five-piece Lunar New Year limited-edition gift set, created in collaboration with Korean painter Kim Hyun Jung, as one example of the value-for-money trend, alongside CJ CheilJedang, Dongwon F&B, Lotte Food, and A Twosome Place.
View full text
Asia Today, Reporter Jung Ji-hee = Ahead of the first Lunar New Year holiday since the Act on Prohibition of Improper Solicitation and Graft (the "Anti-Graft Act") took effect, the food and dining industry is rolling out gift sets centered on "value for money." Most Lunar New Year gift sets are priced at 50,000 won or less, featuring practical, everyday-use items.
According to industry sources on the 8th, CJ CheilJedang has increased its Lunar New Year gift-set volume by about 8% compared to last year, preparing a total of roughly 7.36 million units across some 250 varieties, emphasizing "mid-to-low price range items in the 20,000–40,000 won bracket" and "combination sets." The lineup centers on "Spam," the perennial best-selling gift item, alongside items like "Baeksul Premium Oil" and "Bibigo Native Seaweed."
The company also focused on broadening consumer choice with various sets composed of bottles and pouches, such as "Hanppuri Red/Wild/Black Ginseng," "Hanppuri Health Extract," and "Bibigo Seaweed Snacks." A CJ CheilJedang representative said, "We expect our core 30,000–40,000 won Spam gift sets and combination sets to perform well, along with our 10,000–20,000 won sets centered on seaweed."
Dongwon F&B increased its volume of value-oriented gift sets priced at 50,000 won or less by more than 10% compared to last year, out of its total Lunar New Year gift set inventory. In particular, its high-selling tuna sets and combination sets saw volume increases of 16% and 20%, respectively. The company also released its traditionally popular "Yangban Seaweed Gift Set" as well as distinctive sets featuring canned salmon and canned gizzard shad.
Lotte Food is also presenting a variety of sets centered on "Losham Ennature" canned ham and "Delicatessen" handmade ham, alongside cooking oil, ground coffee, and soy milk. Compared to last year's Lunar New Year, the company increased its gift set volume by 15%, expanding its practical mid-to-low-priced canned ham sets in the 20,000–40,000 won range. This includes the "Oil-Full No. 1" set suited for single-person households, featuring one canola oil and four canned hams, as well as reinforced combination sets featuring sesame oil, salmon, and braised beef.
Gift sets from coffee and beverage chains are likewise focused on "value for money."
A Twosome Place has reduced the financial burden on consumers by pricing its offerings around 30,000 won, featuring a diverse lineup from its popular liquid coffee and hand-drip coffee to its "A Twosome Place Winter Edition Set," available only for this Lunar New Year.
Ogada is presenting five kinds of Lunar New Year limited-edition gift sets through an art collaboration with Korean painter Kim Hyun Jung. Each set pairs an Ogada blending tea with a tea bottle, and Kim Hyun Jung's artwork is applied to the gift box for added distinction — all priced under 50,000 won.
An industry insider said, "This Lunar New Year will be a season that shows the changes in holiday culture and the gift set market following the implementation of the Anti-Graft Act," adding, "We expect demand and purchases for value-oriented, mid-to-low-priced processed food gift sets to increase."