[Graphic News] Average book price nears 20,000 won

As the average price of a new book in South Korea approaches 20,000 won ($14.70), readers are increasingly feeling the financial burden, driving up demand for more affordable secondhand books.

According to recent data from the Korean Publishers Association, the average price of newly released books in 2023 was 19,526 won, marking a 4.8 percent increase from 18,633 won the previous year.

Book prices have been climbing steadily since 2020, when the average new book price stood at 16,420 won. Over four years, this represents an 18.9 percent increase, largely attributed to inflation and rising production costs.