[Exclusive] Price Increase of 1,000 Won for Naengmyeon at Pildong Myeonok, Eulji Myeonok, Bongpiyang, and Others

Half of Seoul's Top 6 Naengmyeon Restaurants Raised Prices Since Early This Year
All Increased by 1,000 Won... "Buckwheat Price Rise" Cited
Naengmyeon Prices Up 8.9% Year-on-Year... Buckwheat Prices Also Jumped 42%

[Asia Economy Reporters Seungyun Song and Eunmo Koo] Famous "naengmyeon restaurants" in Seoul have consecutively raised the prices of their main menu items, including naengmyeon.

According to the industry on the 9th, three out of the six famous naengmyeon restaurants in Seoul, known as the "Seoul 6 Major Naengmyeon Houses," have increased their prices by 1,000 KRW each since the beginning of this year.

Pildong Myeonok, which was also listed in the "Michelin Guide Seoul 2022," raised its price from 12,000 KRW to 13,000 KRW earlier this month, and Bongpiyang, which has several branches, increased its price from 14,000 KRW to 15,000 KRW. Additionally, Eulji Myeonok raised its price from 12,000 KRW to 13,000 KRW right after the Lunar New Year holiday.

According to statistics from the Korea Consumer Agency's Price Information Service, the average price of one serving of naengmyeon in Seoul was 9,808 KRW as of last month, up 8.9% from the same period last year (9,000 KRW). This is a sharp increase compared to 8,846 KRW two years ago.

The main reason for the rise in naengmyeon prices is the increase in buckwheat prices. The trend in buckwheat prices closely follows the upward trend in naengmyeon prices. According to the Korea Agro-Fisheries & Food Trade Corporation's agricultural product distribution information, the wholesale price of buckwheat was 4,200 KRW per kilogram as of October 8 last year, a 42% increase compared to 2,943 KRW a year earlier. Buckwheat prices, which were only 2,780 KRW two years ago, have risen by more than 1.5 times.

In addition, restaurant owners argue that price increases were inevitable due to rising costs of meat and vegetables used in naengmyeon during the same period. A representative from a naengmyeon restaurant said, "Labor costs remain the same, but ingredient costs have skyrocketed, making it impossible to maintain profit margins without raising prices."

On the other hand, despite these circumstances, public reaction has been lukewarm. Although naengmyeon has long been loved as a representative affordable dish, many feel it no longer seems like a budget-friendly meal as prices have easily surpassed 10,000 KRW.

Citizen Kim Jeonghyun (34) said, "It used to be a cheap and convenient dish that I would eat at least once a week during the summer, but I don't think I can do that anymore," adding, "The price has become too expensive, and compared to other foods, I feel it lacks cost-effectiveness."

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