The South Korean Ministry of the Interior and Safety announced that it will expand benefits for consumers who help identify or frequently patronize businesses designated as “Good Price Shops” (Image courtesy of Yonhap)
SEOUL, April 18, (Korea Bizwire) — The number of South Korea’s “Good Price Stores” — eateries and shops offering quality services at lower-than-average prices — has surpassed 10,000 for the first time, the Ministry of the Interior and Safety announced Thursday.
To mark the milestone, the ministry held a commemorative plaque ceremony at the 10,000th store, a Korean restaurant located in a residential neighborhood of Gwanak District, Seoul. The restaurant, which serves its signature sundae gukbap (Korean blood sausage soup) for 8,000 won — 1,500 won cheaper than neighboring businesses — was praised for delivering tangible savings to local residents.
The “Good Price Store” initiative launched in 2011 with about 2,000 locations and gained momentum in 2023 after the government ramped up support. By the end of that year, the number had grown to 7,000, eventually surpassing 10,000 in 2025 through public-private cooperation and citizen nominations.
As of March 2025, a total of 10,059 businesses nationwide hold the designation, up from 9,723 in December 2024. During that period, 546 new establishments were added, while 210 were removed from the program due to closures (125), failure to meet updated criteria (34), or voluntary withdrawal (13).
Disqualifications primarily stemmed from price hikes that pushed menu items above local averages or unsatisfactory hygiene conditions.
In response to the program’s expansion, authorities have tightened oversight to boost consumer trust. A new “report error” feature has been added to the Good Price Store website (goodprice.go.kr), allowing the public to flag inaccurate pricing or business details. Consumer feedback submitted online or reported in media is now subject to priority review by local governments, with the ministry conducting on-site inspections as needed.
Since January 2025, the criteria for designation have also been strengthened. Stores must now offer prices below the local average — rather than merely at or below — and greater weight has been given to hygiene standards to emphasize cleanliness and safety.
The ministry emphasized that as the program grows in scale, ensuring credibility and tangible benefits for consumers remains a top priority.
M. H. Lee (mhlee@koreabizwire.com)
