"10,000 Won Duruchigi for 7,000 Won"... Restaurants Lower Prices Following Spread of 'Good Rent Movement'

COVID-19 Hits Dining Self-Employed Businesses Hard
'Good Rent Campaign' Rapidly Spreads Nationwide
"With Fewer Dine-In Customers, Even Low Margins Help"... Temporary Food Price Reductions Underway

Source: Yangcheol Sikdang Instagram account

[Asia Economy Reporter Choi Saeng-hye] Amid the sharp decline in sales of dining-out businesses due to the spread of the novel coronavirus infection (COVID-19), some restaurants have lowered their food prices to attract customers. The reasons behind the price cuts include the rapid spread of the 'Good Rent' campaign supporting self-employed business owners struggling due to the COVID-19 outbreak among private and public institutions, and the increasing number of self-employed entrepreneurs adopting a low-margin, high-volume marketing strategy out of desperation.

According to the dining industry on the 18th, restaurants across the country have reduced prices to recover the decreased foot traffic caused by the COVID-19 impact. Hwahae Galbi Unlimited Shabu in Mulgeum, Yangsan, Gyeongsangnam-do recently started offering one free serving when ordering three servings of king ribs. This restaurant temporarily closed from the 24th of last month to the 1st due to confirmed COVID-19 cases in the Yangsan and Busan areas. A branch representative announced the price reduction through social networking services (SNS) with messages such as "Let's overcome COVID! Let's revive the atmosphere!"

Yangcheol Restaurant, a Korean cuisine specialty restaurant in Cheongju, also hung banners stating "Food prices lowered due to temporary rent reduction" and "Let's overcome COVID-19 together!" and is selling lunch menu items Duruchigi and Pa Bulgogi at 7,000 won, down from 10,000 won.

Hondeopbap, a rice bowl specialty restaurant in Buk-gu, Daegu, lowered the price of its Oyako-don menu from 6,500 won to 5,900 won. Prices for Gochujang Buta-don and Spicy Usamgyeop Sukju-don were also adjusted downward. Mingu Restaurant, a handmade burger specialty restaurant in Guyoung-ri, Ulsan, reduced the price of its original Hamburg steak and other basic menu items from 6,300 won to 5,900 won.

In Seogwipo, Jeju, many dining establishments voluntarily agreed to reduce food prices. Sixteen businesses affiliated with the Korea Foodservice Industry Association Seogwipo branch announced on the 5th that they decided to voluntarily lower some food prices until the COVID-19 situation stabilizes to revive the local economy, which has been depressed due to a decrease in tourists and weakened consumer sentiment.

Jeju Ttukbaegi (grilled mackerel) and Seonyeong Raw Fish Restaurant (Jiri and spicy fish stew) lowered prices by 3,000 won per menu item, while Ssangdungi Raw Fish Restaurant (spicy fish stew, Jiri, raw fish bibimbap), Mokpo Goeul Main Branch (black pork galbi jjim), Haerine (Gakjuri soup, rockfish spicy stew), Namwon Chueotang (loach soup), and Suyukbonga (boiled pork slices) each reduced prices by 2,000 won. Yonggung-e Ppajin Dak (samgyetang), Jangchung-dong Wang Jokbal (pork trotters, bossam, gamjatang), World Cup Black Pork (galbitang), Jungmun Daedeulbo (set menu), Mirinae Noodles (sundae soup), Palma Restaurant (aged kimchi pork bone stew), Delicious House (kimchi stew), Basak Shin Seogwipo Branch (sirloin pork cutlet), and Kim Gogi (pork belly) lowered their main menu prices by 1,000 won.

Currently, a total of 48 establishments in Seogwipo City alone are known to have reduced food prices due to the COVID-19 situation.

Meanwhile, many self-employed business owners are deeply worried about these developments. Jo Young-beom (alias, 59), owner of a Korean restaurant in Gangseo-gu, Seoul, said, "Far from lowering food prices, sales have dropped by nearly 70%, and I might have to raise prices. If more practical support measures are not introduced, I may have to consider closing the business."

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