Nonghyup Launches Online Wholesale Market Goods for Lunar New Year

South Korea’s NongHyup is making a substantial investment to ease consumer burdens ahead of the Lunar New Year, a traditionally significant holiday for gift-giving and family gatherings. The agricultural cooperative is dedicating February 20th as the end date for a widespread discount campaign encompassing agricultural products, farming supplies, and even fuel, a first for the organization.

The initiative, totaling 51 billion won (approximately $36 million USD), aims to stabilize prices during a period of economic pressure for Korean households. NongHyup is contributing 36.2 billion won from its own budget, bolstered by 13.5 billion won in government subsidies and 1.3 billion won from industry funds. This collaborative approach underscores the government’s commitment to price stabilization, particularly as imported agricultural goods become more expensive due to fluctuations in exchange rates and a strong U.S. Dollar.

The discounts, reaching up to 65% at NongHyup Hanaro Mart stores nationwide, will focus on Lunar New Year staples. Apples, pears, and Korean beef (hanwoo) are specifically highlighted, alongside everyday essentials like napa cabbage, eggs, instant noodles (ramyeon), and sesame oil. The campaign is designed to alleviate the financial strain on consumers during a time when rising costs are impacting meal prices and overall household budgets.

Beyond groceries, NongHyup is extending the discounts to the energy sector. NH-OIL gas stations will offer heating kerosene at 30 won per liter below regular prices, providing relief as colder weather sets in. Agricultural supply outlets will also participate, offering discounts of up to 30% on essential farming materials, supporting the agricultural sector itself.

The move comes as South Korea experiences increased demand for domestically produced sea salt, fueled by concerns over potential contamination of seafood following Japan’s release of treated wastewater from the Fukushima nuclear plant. While not directly linked to the NongHyup campaign, this broader consumer anxiety highlights the sensitivity surrounding food safety and the importance of supporting local agricultural products.

NongHyup’s online platform, NH Singsingmall, will also participate in the discounts, offering savings of up to 50% on a variety of agricultural and livestock products. This dual approach – brick-and-mortar discounts at Hanaro Mart stores combined with online promotions – aims to reach a wider consumer base and maximize the impact of the price stabilization effort.

The cooperative is also leveraging partnerships with the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries. Discounts on agricultural, livestock, and seafood products will be implemented in conjunction with existing government programs, including the Ministry of Agriculture’s discount initiative and the Ministry of Oceans and Fisheries’ “Korea Seafood Festival.” This coordinated effort demonstrates a unified approach to addressing consumer concerns and supporting the agricultural and fisheries industries.

NongHyup Distribution, the operator of NongHyup Hanaro Mart, began pre-orders for Lunar New Year gift sets on December 29, 2025, and will continue accepting them through February 1, 2026. Customers paying with affiliated credit cards can receive discounts of up to 50%, with the potential to earn up to 7.5 million won in NongHyup Rural Love Gift Certificates based on their purchase amount. The pre-order event also includes promotional offers such as “1+1” and “2+1” deals on select items.

Hanaro Mart has curated a “Steady Seller” category featuring consistently popular gift sets, as well as recommendations categorized by age group and price range, from affordable options under 10,000 won to premium sets exceeding 200,000 won. The “Nonghyup Brand Hall” showcases products from Nonghyup Livestock, Mokuchon, Nonghyup Grain, and Nonghyup Food, emphasizing the dedication of local farmers.

This comprehensive campaign reflects NongHyup’s commitment to supporting both consumers and the agricultural sector during a critical economic period. The organization’s proactive approach, combining substantial financial investment with strategic partnerships and a wide range of discounts, aims to ensure that the Lunar New Year celebrations are accessible and affordable for all Korean households.

The timing of this initiative is particularly noteworthy, coming after NH NongHyup Bank launched a proof-of-concept with Avalanche, Fireblocks, and Mastercard in November 2025, signaling the bank’s broader exploration of innovative financial technologies. While seemingly unrelated, this demonstrates NongHyup’s overall commitment to modernization and adapting to evolving economic landscapes.