Skyrocketing Menu Prices in Seoul Restaurants: A 30% Increase over the Past Nine Years

Prices of menu items in popular restaurants have witnessed a substantial surge of over 30% on average in the past nine years, according to recent findings. Data from the Korea Consumer Agency reveals that, in August of this year, the average price of seven restaurant menus in Seoul skyrocketed by a staggering 35.3% compared to the same period in 2014.

During this time frame, Jajangmyeon, a beloved staple dish, experienced the largest increase of 55.4%, escalating from 4,500 won to 6,992 won. Similarly, Bibimbap surged by 46.2%, climbing from 7,818 won to 10,423 won, while cold noodles witnessed a significant hike of 42.8%, ascending from 7,864 won to 11,231 won.

Furthermore, other menu items experienced notable price increases. Kimchi stew with white rice recorded a substantial growth of 39.2%, followed closely by kalguksu at 37.9%, pork belly at 35.7%, and samgyetang at 24.8%. Evidently, the prices of everyday dishes enjoyed by the general population have undergone a considerable rise.

Disturbingly, out of the seven restaurant menus examined, only two items, kimchi stew and jajangmyeon, can still be enjoyed within a 10,000 won budget. Meanwhile, the price of pork belly threatens to reach the 20,000 won mark per serving, and the cost of kalguksu is approaching the 10,000 won milestone.

Regrettably, this upward trend in restaurant prices shows no signs of abating. The instability of grain prices, resulting from the Ukraine conflict, coupled with escalating electricity and labor costs, further exacerbate the situation. Thus, it is likely that prices will continue to ascend for the foreseeable future.

As consumers grapple with the mounting cost of dining out, it is crucial to keep a close eye on these developments.

They found that the prices of menu items in large, consumer-favoured restaurants have increased by more than 30% on average over the past nine years.

According to data from the Korea Consumer Agency, the average price of seven restaurant menus in the Seoul area in August this year jumped 35.3% compared to August 2014.

During the period, the price of Jajangmyeon, which is considered a representative common food, rose 55.4% from 4,500 won to 6,992 won, showing the biggest increase.

Bibimbap rose 46.2% from 7,818 won to 10,423 won, and cold noodles rose 42.8% from 7,864 won to 11,231 won.

In addition, kimchi stew white rice had the highest increase of 39.2%, kalguksu 37.9%, pork belly 35.7%, and samgyetang 24.8%.

Overall, the increase in prices of restaurant menu items enjoyed by ordinary people was evident.

As of last month, out of seven restaurant menus, only two types of kimchi stew and jajangmyeon can be eaten with one won bill of 10,000.

The price of pork belly threatens to reach the won mark of 20,000 per serving, and the price of kalguksu (kalguksu) is also approaching the won mark of 10,000.

This upward trend in restaurant prices is expected to continue for now.

This is because grain prices remain unstable due to the outcome of the war in Ukraine, and electricity and labor costs have also increased.

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