Posted Suddenly in This Situation... Toilet Paper, Soap, Instant Rice, Ramen, Kalguksu All Stirred Up

"Prices Consumers Actually Pay: 'All Essential Goods Are Up'"
Impact of COVID-19... Controversy Over Sneaky Price Hikes, Burden Passed to Consumers
Dining Menu Also Fluctuates... Jajangmyeon, Gimbap, Bibimbap Prices Up in One Year

Customers are purchasing hygiene products at a large supermarket in Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Lee Seon-ae] The prolonged COVID-19 pandemic has caused a sharp rise in the prices of daily necessities. Various factors such as soaring raw material costs, product supply-demand imbalances, and expanded distribution margins have played a role, but regardless of these, as the economic recession rapidly progresses, many items have adjusted prices to maintain profits, drawing strong criticism as opportunistic price gouging. The prices of popular dining-out menus have also continued to soar, increasing the burden on consumers.

◆Why batteries and butane gas? ... Passing the burden to consumers= According to Chamgagyeok, a comprehensive price information portal operated by the Korea Consumer Agency, the selling prices of major products such as general industrial goods and processed foods in March (based on the second week) rose compared to the previous month. Chamgagyeok surveys and provides the selling prices of products sold by nationwide distribution channels (large supermarkets, corporate supermarkets, department stores, traditional markets, convenience stores), reflecting the actual prices consumers pay regardless of whether companies raised prices. During the pandemic, manufacturers raised the ex-factory prices of items with disrupted raw material supply. For items with increased demand due to panic buying but limited supply, distributors adjusted selling prices. Many items opportunistically raised prices taking advantage of the unstable situation, ultimately passing the burden onto consumers, which is expected to draw criticism.

Most general industrial goods saw price increases. The March price of Duracell Ultra Powercheck AAA batteries (2-pack, Korea P&G) was 3,384 won, up more than 10% from 3,019 won in February. During the same period, rubber gloves (medium size, Clean Wrap) rose from 4,410 won to 4,880 won, and butane gas increased from 2,403 won to 2,563 won.

Prices of fabric deodorizers and laundry detergents were also adjusted. Sharpran Care Mild Scent (900ml, LG Household & Health Care) and Febreze Unscented (37ml, Korea P&G) rose from 6,777 won and 5,374 won to 7,430 won and 5,423 won, respectively. Hygiene bags and kitchen towels also increased. Clean Bag (100 sheets, Clean Wrap) went from 2,590 won to 2,607 won, and Deluxe Kitchen Towel (540 sheets, Yuhan-Kimberly) rose from 7,716 won to 8,240 won.

Prices of tissue packs, toilet paper rolls, and wet wipes also fluctuated. Moisturizing beauty tissue (3-pack, Mirae Life) increased from 9,199 won to 9,545 won, Kleenex Deluxe (3-pack, Yuhan-Kimberly) rose from 7,438 won to 7,719 won, and Kleenex Deco Soft 3-ply (24 rolls, Yuhan-Kimberly) adjusted from 21,075 won to 21,282 won. Wet wipes Kleenex Su & Su (cap type, 70 sheets, 6-pack, Yuhan-Kimberly) increased from 11,649 won to 12,096 won.

Lotte Mart Seoul Station Branch, Jung-gu, Seoul. Not related to the article. Photo by Kang Jin-hyung aymsdream@

◆Surging product demand... Price increases centered on popular processed foods= Prices of processed foods with high demand also rose. The prices of ramen, which experienced panic buying, increased across the board. Samyang Ramen (5-pack, Samyang Foods) rose from 3,422 won to 3,495 won, Shin Ramyun (5-pack, Nongshim) from 3,630 won to 3,660 won, and Jin Ramen (mild, 5-pack, Ottogi) slightly increased from 2,972 won to 3,012 won. Instant rice prices also trended upward. Delicious Ottogi Rice (210g, 3-pack, Ottogi) rose from 3,798 won to 3,997 won, and CJ Hetbahn Cupban Seaweed Soup Rice (167g, CJ CheilJedang) increased from 2,950 won to 3,096 won.

Cereal, which was among the best-selling items due to COVID-19, also rose. Special K Original (480g, Nongshim Kellogg) increased from 6,566 won to 7,183 won, and Kellogg's Corn Frost (600g, Nongshim Kellogg) adjusted from 5,358 won to 5,511 won.

Housewife Kang Jin-hee (29) said, "I understand that prices of products with high demand due to COVID-19 have risen, but I don't understand why prices of batteries and butane gas have increased; it feels like opportunistic price gouging taking advantage of the unstable situation," adding, "I bought wet wipes, soap, body wash, and instant foods, and the total easily exceeded 100,000 won, which is financially burdensome."

A Korea Consumer Agency official explained, "We conduct surveys based on actual selling prices, and it is true that many items' prices rose in March. However, the reasons for the increases are complex."

◆All dining-out costs rose... Kalguksu 7,000 won, Naengmyeon 9,000 won= Prices of dining-out menus are also fluctuating. Among eight representative dining-out items popular with consumers in Seoul, seven saw price increases over the past year.

According to Chamgagyeok, naengmyeon, which averaged 8,962 won per bowl in December last year, rose to 9,000 won in January. Compared to the same month last year, it increased from 8,846 won by 1.7%. Kalguksu, which surpassed 7,000 won in December last year, also rose slightly to 7,077 won in January, a sharp 4.6% increase compared to 6,769 won in the same month last year.

Jajangmyeon prices, which exceeded 5,000 won since October last year, slightly increased to 5,154 won in January. This was a 7.2% rise from 4,808 won a year earlier, marking the steepest increase among items.

The price of one roll of gimbap was 2,408 won, up 1.6% from 2,369 won a year ago. Samgyetang was 14,462 won with no change from the previous month but slightly up 1.1% from 14,308 won a year ago. Kimchi stew set meal and bibimbap were 6,462 won and 8,769 won, respectively, up 3.1% and 0.4% from 6,269 won and 8,731 won a year ago.

Samgyeopsal (200g) was 16,701 won, up from 16,235 won in December last year, but compared to the same month last year, it fell 0.9% from 16,865 won. This is attributed to increased pig farming and the impact of African Swine Fever (ASF), which caused samgyeopsal prices to decline.

The problem is that this trend is expected to continue. The impact of COVID-19 is expected to be reflected in dining-out menu prices for February and March, suggesting a continued upward trend.

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