If you are a fan of Starbucks in Korea, be prepared to open up your wallet. In fact, be ready to pay twice as much as Americans.
According to a recent report from the Korea Trade-Investment Promotion Agency (KOTRA) and the Hyundai Research Institute, Starbucks stores in Korea have the sixth-highest prices among international branches.
The report said Starbucks was most expensive in Poland, followed by Hungary, Turkey, Greece, and the Czech Republic. The U.S. ranked 20th.
The researchers applied a "Purchasing Power Party exchange rate," to take into account the relevant currency values in each country. On this basis, a tall Americano cost $4.85 in Korea, $2.45 in the U.S. and $3.52 in Japan.
It also cost less to have Starbucks in France, Germany, and the United Kingdom.
A Starbucks official told a local vernacular that Korean Starbucks have a higher operating cost because customers tend to stay and sit in the stores longer.
According to a recent report from the Korea Trade-Investment Promotion Agency (KOTRA) and the Hyundai Research Institute, Starbucks stores in Korea have the sixth-highest prices among international branches.
The report said Starbucks was most expensive in Poland, followed by Hungary, Turkey, Greece, and the Czech Republic. The U.S. ranked 20th.
The researchers applied a "Purchasing Power Party exchange rate," to take into account the relevant currency values in each country. On this basis, a tall Americano cost $4.85 in Korea, $2.45 in the U.S. and $3.52 in Japan.
It also cost less to have Starbucks in France, Germany, and the United Kingdom.
A Starbucks official told a local vernacular that Korean Starbucks have a higher operating cost because customers tend to stay and sit in the stores longer.
