Even Off-Season, 'Dining Out Price Hikes' Extend to Bingsu... Expected to Surge More This Year

Sulbing and Paik's Coffee Raise Product Prices... "A Decision for Mutual Growth with Franchisees"
Continuous Inflation Increases Profit Burden... Price Hikes Expected to Surge This Year

[Asia Economy Reporter Lee Seon-ae] Since the beginning of the new year, there has been a flood of price increases among dining-out brands. In particular, there is strong criticism that prices have quietly risen during a period when many prices are being raised at the start of the year, even for bingsu (shaved ice dessert) outside of the bingsu season. These dining brands claim that due to continuous inflation, the burden on franchise owners has increased, making it inevitable to raise consumer prices.

According to the industry on the 14th, Sulbing raised the prices of its bingsu menu items, including Sulbing, dessert, sides, and drinks, by 1,000 won each as of the 10th. The Injeolmi Sulbing increased from 7,900 won to 8,900 won, Pat Injeolmi Sulbing from 8,900 won to 9,900 won, Choco Brownie Sulbing and Cheese Sulbing from 9,900 won to 10,900 won, with prices adjusted for nine menu items in total. Prices for three set menus including bingsu also increased by 1,000 won each.

A Sulbing representative explained, "Franchisees have been struggling every year due to minimum wage hikes and inflation, and recently the Sulbing National Franchisee Council (Win-Win Council) requested the headquarters to raise prices, leading to this adjustment."

Low-priced coffee chain Paik’s Coffee also joined the price hike. Starting February 3, Paik’s Coffee will raise consumer prices for four menu items with significantly high cost burdens for franchise owners. The price adjustments are as follows: ▲Complete Choco Banana Paik’s Chino (basic) from 2,800 won to 3,500 won ▲Complete Strawberry Banana Paik’s Chino from 3,000 won to 3,500 won ▲Green Tea Paik’s Chino from 3,000 won to 3,500 won ▲Salad Bread from 2,000 won to 2,500 won.

A Paik’s Coffee representative said, "Since it is a difficult time for both franchise owners and customers due to the economic downturn, we decided not to raise prices for coffee menu items that are popular with customers by lowering the cost of coffee beans. However, due to rising labor and rental costs, there is a limit to easing store operation burdens, so we decided to raise prices for four menu items with a high cost ratio."

Price increases in the dining industry have been ongoing since December last year. KFC, Burger King, Lotteria, Angel-in-us, and H?agen-Dazs have all raised product prices early on. Dining companies state that price hikes are inevitable due to worsening franchisee profits. Therefore, news of food price increases is expected to continue.

This content was produced with the assistance of AI translation services.