Burger King Also Raises Burger Prices Twice This Year... Price Increases Continue
[Asia Economy Reporter Moon Hyewon]Amid the recent surge in dining-out expenses, Burger King has implemented its second price increase this year.
Burger King announced on the 27th that starting from the 29th, it will raise the prices of 46 products by an average of 4.5%. This price hike comes about six months after the January increase, when prices of 33 products were raised by an average of 2.9%.
Looking at individual products, the signature Whopper will increase from 6,400 won to 6,900 won, the Long Chicken Burger from 4,400 won to 4,600 won, and the Whopper Junior from 4,400 won to 4,600 won.
In particular, the Whopper price has risen a total of 800 won in just half a year, having increased from 6,100 won to 6,400 won in January and now rising another 500 won.
Not only Burger King, but other burger fast-food chains are also implementing their second price hikes within six months.
KFC, which raised prices of some menu items by 200 to 400 won starting from the 12th, had previously adjusted prices of certain items such as the Zinger Burger and Original Chicken by 100 to 200 won in January, and has now increased prices again after six months. The popular Zinger Burger price jumped from 4,900 won to 5,300 won, and the Original Chicken piece rose from 2,700 won to 2,900 won.
Lotteria also raised product prices by an average of 4.1% last December and added another 5.5% increase last month. The price of the flagship Bulgogi Burger was adjusted from 3,900 won to 4,500 won last month.
Korea McDonald's raised prices of 30 products by 100 to 300 won on February 17, and Mom's Touch also increased burger prices by 300 won and chicken prices by 900 won starting from the 3rd of the same month. Industry insiders are paying attention to the possibility of further price hikes from these brands. In particular, McDonald's is strengthening its premium product lineup as its U.S. headquarters recently raised product prices.
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An official from the fast-food industry said, "Due to increased logistics and raw material costs both domestically and internationally, price hikes across the industry have become inevitable."
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