Fish-shaped Pastry as a Common Snack Is 'Old Story'... Ingredient Prices Rise, 1 Piece Now 1000 Won

Survey Results from Korea Price Information
Flour and Others Up 49.2% Compared to 5 Years Ago

A street vendor in downtown Seoul is selling Bungeoppang. (Photo by Korea Price Information)

[Asia Economy Reporter Lim Chun-han] Recently, as the high inflation phenomenon continues, the prices of ingredients for popular winter snacks such as Bungeoppang, Gyeranppang, and Hotteok have significantly increased. Accordingly, Bungeoppang is now sold at 1,000 won for 2 pieces as a basic price, and in some regions, 1,000 won per piece.

On the 14th, according to Korea Price Information, a professional price survey organization, the prices of flour, red beans, sugar, cooking oil, and LPG gas were surveyed and found to have risen by 49.2% compared to five years ago. Among these, the price of red beans doubled, recording the largest increase. This data was surveyed based on the main ingredients and basic units of representative winter snacks, and considering the actual amount of ingredients used or additional ingredients by item, the difference is expected to be even greater.

Korea Price Information cited the short-term causes as the won-dollar exchange rate and the rise in international grain prices due to the Russia-Ukraine war, and the long-term causes as the rise in global agricultural product prices due to adverse weather conditions and the increase in raw material prices caused by COVID-19.

Korea Price Information stated, “Not only flour, red beans, and cooking oil but also gas and sugar are items inseparable from the global economy,” adding, “Since most are dependent on imports, they inevitably are more affected.”

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