“Panic buying of essentials spikes as citizens respond to sudden declaration.”
SEOUL – Following South Korea’s sudden declaration of martial law on the night of December 3, local convenience stores reported a sharp increase in sales of essential goods, according to industry sources. The announcement triggered a wave of panic buying, especially during the hour following the declaration at 11 p.m., Yonhap News Agency reported.
One unnamed convenience store chain observed a dramatic rise in purchases, with canned goods seeing a 337.3% surge compared to the same time in the previous week. Sales of instant noodles increased by 253.8%, while bottled water and instant rice climbed by 141% and 128.6%, respectively. Non-food items such as dry cell batteries and first aid kits also experienced significant sales growth, at 40.6% and 39.5%.
Similar trends were noted across other chains, with canned foods rising by 75.9% and instant rice by 38.2% compared to the day before. Bottled water and packaged noodles showed increases of 37.4% and 28.1%, respectively.
Industry representatives remarked that many of the customers during this period were in their 50s and 60s, a demographic with memories of martial law from the 1980s. Their response appeared to reflect lingering unease tied to those earlier experiences.