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Cost of dining out spikes in May ahead of popular holidays
A woman shops for vegetables at a traditional market in Mapo, Seoul. Korea Times file
By Lee Kyung-min
By Lee Kyung-min
The prices of dining out and popular food items are showing signs of further sharp hikes, burdening many households in the month of May, when families eat out on the occasion of Children's Day and Parents' Day.
Data from Korea Consumer Agency showed the price increases of eight popular food items averaged between 7.5 percent and 16.3 percent last month, compared to a year ago. Among them are pork belly, samgyetang, or chicken noodle soup, jjajangmyeon, or a Korean-style Chinese noodle dish and cold noodles.
In more understandable terms, the price of pork belly per 200-gram serving rose to 19,236 won ($14.91), up 12.1 percent from the year before.
This sees the average meal tab well in excess of 100,000 won for a family of four dining out, when beverages are included.
A bowl of samgyetang came to 16,346 won, up 12.7 percent from a year ago, while that of jjajangmyeon jumped 16.3 percent to 6,800 won.
Similarly, data from Korea Institute for Animal Products Quality Evaluation, an agriculture ministry-affiliated organization, showed that pork retailed for 24,750 won per kilogram as of April 27, up 9.7 percent from 22,560 won a month earlier. The retail price of chicken rose to 6,246 won per kilogram, up 2.9 percent.
The price of fried chicken sold by the three top local franchises ― Kyochon, bhc and BBQ Genesis ― is now close to 30,000 won per bucket, if delivery costs are included.
“Prices do not come down once they go up,” said Kim Sun-mee, a mother of two in her 40s in Seoul. “I'm afraid to go shopping for groceries because everything is so expensive now.”
The agriculture ministry held a meeting with the local food and beverage franchise industry, April 21, and recommended against further price increases of popular food items.