The Small Enterprise and Market Service signed an agreement Sunday at Hana Financial Group's Myeong-dong headquarters in Jung-gu, Seoul, to support price stabilization through the supply of affordable eggs. Pictured are attendees posing for a photo after the signing. From left: Kwon Hyeok-hwan, vice chairman of the Korea Federation of Small and Medium Business; In Tae-yeon, chairman of the Small Enterprise and Market Service; and Ham Young-joo, chairman of Hana Financial Group. [Small Enterprise and Market Service]
The Small Enterprise and Market Service signed an agreement Sunday at Hana Financial Group's Myeong-dong headquarters in Jung-gu, Seoul, to support price stabilization through the supply of affordable eggs. Pictured are attendees posing for a photo after the signing. From left: Kwon Hyeok-hwan, vice chairman of the Korea Federation of Small and Medium Business; In Tae-yeon, chairman of the Small Enterprise and Market Service; and Ham Young-joo, chairman of Hana Financial Group. [Small Enterprise and Market Service]

SEMAS, Hana Financial, KFSB to supply 120,000 trays of discount eggs

Over 4,000 neighborhood supermarkets nationwide targeted; price 31.9% below August average

Logistics subsidies to lower costs; initiative aims to draw customers back to local shops

Following 990-won soju and discounted beer, eggs are the latest product being deployed as a loss leader at neighborhood supermarkets. Ahead of the Chuseok holiday, the initiative aims to sell 60 eggs for 9,990 won — easing the burden on household budgets while drawing consumers back to local shopping streets.

The Small Enterprise and Market Service announced Monday it had signed an agreement with Hana Financial Group and the Korea Federation of Small and Medium Business to supply discounted eggs — branded "the Good Egg" — to more than 4,000 neighborhood supermarkets across the country.

The total supply will reach 120,000 trays. Customers can buy two trays — 60 eggs in total — for 9,990 won at participating neighborhood supermarkets. That works out to 4,995 won per tray of 30.

According to the Korea Institute for Animal Products Quality Evaluation, the average retail price for 30 eggs in August was 7,332 won. The Good Egg is priced roughly 31.9 percent below that. Buying 60 eggs at the average retail price would cost 14,664 won ($11), meaning shoppers can save 4,674 won.

The lower price is made possible by the participating organizations sharing a portion of distribution costs. Hana Financial will contribute a co-prosperity donation to cover logistics expenses, while the Korea Federation of Small and Medium Business will connect distributors with poultry farms and handle supply to neighborhood supermarkets through its national distribution network. The Small Enterprise and Market Service will oversee price labeling, fair-trade operating guidelines and overall project management.

The initiative is the third installment in the Small Enterprise and Market Service's neighborhood commerce co-prosperity project this year. The agency launched 990-won soju in April and discounted beer in June, and has now selected eggs — a staple purchased frequently ahead of Chuseok — as the next item.

"We designed this to reduce the burden on household budgets by supplying a basic staple at a lower price, and to help restore consumer sentiment," said Im Dong-hyeok, a senior official at the agency's retail support team. "We expect it to serve as a catalyst for strengthening the competitiveness of neighborhood supermarkets."

The Small Enterprise and Market Service, Hana Financial and the Korea Federation of Small and Medium Business signed the agreement Sunday at Hana Financial Group's Myeong-dong headquarters in Jung-gu, Seoul. In Tae-yeon, chairman of the Small Enterprise and Market Service; Ham Young-joo, chairman of Hana Financial Group; and Kwon Hyeok-hwan, vice chairman of the Korea Federation of Small and Medium Business, attended the signing. Egg distributor Eggtop presented its egg supply and distribution plan at the ceremony.


hong@heraldcorp.com