"Beverages and Processed Foods... Living Costs Rise at the Start of the New Year"

Cola Price to Rise 6%·Cup Coffee 12% Increase Announced
Steeper Perceived Inflation for Ordinary People
Industry: "Cannot Bear Raw Material Cost Hikes"

"I hurried out because I heard prices would go up starting January 1st. Recently, there have been no discount events, so I'm trying to buy as much as I can."

With the start of the new year, price hikes for some food items including beverages have been announced, causing grocery prices to fluctuate. Since prices for food products and dining menus such as ramen, Hetbahn, coffee, and chicken have already risen one after another throughout this year, the perceived inflation rate for ordinary people is expected to become even steeper.

On the 28th, consumer Lee met at a large supermarket in Mapo, Seoul, loaded three packs of cola into the cart. One pack of twelve 300ml PET bottles costs 12,380 won, about 1,067 won each. Coca-Cola Beverages will raise the convenience store distribution price of Coca-Cola by an average of 5.7%, up to a maximum of 6.6%, starting January 1st, three days later. The most popular 250ml product price will increase from 1,500 won to 1,600 won, and the 1.5ℓ product will rise from 3,600 won to 3,800 won respectively. ▷Related article page 2

Maeil Dairies will also raise the wholesale prices of its cup coffee brands ‘Barista Rules’ and ‘My Cafe Latte’ by 8 to 12.5% starting next month on the 1st. This amounts to about a 200 won increase after roughly four years. Following the wholesale price hike, the retail prices (consumer prices) of these products at major distribution channels including convenience stores and large supermarkets are also expected to rise from next year.

Dongwon F&B will increase the convenience store supply and selling prices of 12 types of Dongwon Yangbanjuk (porridge). The selling prices of three types?‘Yangban Vegetable Large Porridge,’ ‘Yangban Abalone Large Porridge,’ and ‘Yangban Beef Large Porridge’?will rise from 4,500 won to 5,200 won, a 15.6% increase each, while the other nine types will increase by about 15.4%. Sandwich franchise Subway will also raise prices starting next month on the 3rd: 15cm sandwiches by an average of 5.1% (283 won), and 30cm sandwiches by 8.3% (817 won).

Food companies unanimously say that price increases are inevitable due to rising costs such as international raw material prices, labor costs, and logistics expenses. Coca-Cola stated, "In the global raw material market, PET prices rose 45%, aluminum 44%, and raw sugar 38% compared to the previous year." Maeil Dairies also explained, "Overall raw material and manufacturing expenses have increased, and especially the futures price of coffee beans rose about 206% as of October compared to last year, making the price hike unavoidable."

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