SEOUL: The K-pop calendar may be packed with excitement every winter, but the tradition of “Season’s Greetings” merchandise has rapidly escalated from a simple fan gift into a battleground pitting fan emotion against corporate commerce.

What began as a charming collection of diaries, calendars, and exclusive photo cards an annual “ritual” for fans to feel connected to their idols as they step into the New Year is now a massive revenue pillar for entertainment labels.

The intentional use of scarcity, limited pre-orders, and unique themes creates instant FOMO (Fear of Missing Out), driving massive sales and inflating the emotional value of the products.

The formula came crashing down recently when K-pop titan SM Entertainment unveiled its 2026 Season’s Greetings lineup. While most artists’ bundles stuck to the standard price point of around 49,000 won ($34), the sets for their top-performing groups, aespa’s and RIIZE, were listed at a staggering 129,000 won.

Though these were labeled “special editions” and packed with extra items (like aespa’s necklace and denim bag or RIIZE’s paper dolls), the near three-fold jump in price immediately triggered severe backlash.

Fans flooded social media, accusing SM of undermining the inclusive spirit of the tradition and essentially “testing the limits” of fan loyalty.

The notable price surge stands in direct opposition to standard industry norms, considering major groups like TWICE, Seventeen, and Stray Kids priced their comparable sets within a narrow 45,000 to 55,000 won range last year.

Weighing in on the issue, cultural critic Ha Jae-geun asserted that this financial pressure exposes the fragile nature of emotional value in K-pop. He strongly cautioned agencies against leveraging fan loyalty solely for profit.

Fundamentally, even as the cost debate rages, the merchandise’s enduring function remains personal: it provides fans with an essential sense of belonging that far outweigh