Major Dining Prices Up 35% Over 10 Years... "Post-COVID-19 Increase Even Larger"

Price Trends of 8 Dining Items Over 10 Years
35% Increase in 10 Years... Sharp Rise Since COVID-19
Jajangmyeon Up 52.4%... 16.5% Increase in One Year

The prices of eight major dining-out items, including Naengmyeon, Samgyetang, and Bibimbap, have increased by at least 20% and up to more than 50% over the past decade. While most dining-out items have seen continuous price increases each year, the rate of increase has been much steeper since the COVID-19 pandemic.

According to the comprehensive price information portal Chamgagaek of the Korea Consumer Agency on the 6th, the average selling prices of eight major dining-out items in Seoul?Naengmyeon, Bibimbap, Kimchi-jjigae set meal, Samgyeopsal, Jajangmyeon, Samgyetang, Kalguksu, and Gimbap?have risen by about 35% over the past 10 years, from 2014, when average prices were first published, to February of this year.

By item, Naengmyeon increased by 37.5% in February this year (10,692 KRW) compared to 2014 (7,773 KRW). The price of Naengmyeon surpassed 10,000 KRW for the first time, rising 7.3% compared to the same month last year. Bibimbap also rose 29.3% from 7,818 KRW nine years ago to 10,115 KRW, with an 8.7% increase compared to last year. Samgyetang (16,115 KRW), Gimbap (3,100 KRW), Kalguksu (8,731 KRW), and Kimchi-jjigae set meal (7,692 KRW) also increased by 11.1%, 10.4%, 9.7%, and 7.5%, respectively, compared to the same month last year. Compared to 2014, Samgyetang, Kalguksu, and Kimchi-jjigae set meal rose by 20.1%, 31.5%, and 36.4%, respectively, while Gimbap was the only item to see a slight price decrease of 0.2%.

Jajangmyeon showed the highest rate of increase, with an average price of 6,723 KRW, up 16.5% from 5,769 KRW last year. Compared to 2014 (4,409 KRW), it rose by 52.4%, marking the highest increase over the 10 years. The price survey agency Korea Price Information recently announced that the price of Jajangmyeon has increased by more than 6,000% since the first price survey began in 1970.

Most dining-out items saw a sharper rise in prices starting from 2020, when the spread of COVID-19 became serious. For Naengmyeon, the average price increased by 13% over six years from 2014 to 2019, but the increase rate from 2020 to this year was 18.8%, indicating a higher rise over four years. For Jajangmyeon, the six-year increase rate was only 9.9%, but during the COVID-19 period, it surged by 31%. Samgyetang maintained an average price in the 14,000 KRW range, rising 8.1% from 13,409 KRW in 2014 to 14,500 KRW last year, but then jumped 11% in one year to reach the 16,000 KRW range. Other dining-out items showed similar trends.

The main reason for this rise in dining-out prices is the sharp increase in ingredient prices during the COVID-19 period. Globally, logistics disruptions occurred after COVID-19, and the Russia-Ukraine war further pushed up raw material prices. A survey also found that the prices of major ingredients used in restaurants rose about 18% in one year. According to the food tech startup Marketboro, for example, the price of flour (20kg for noodle making), the main ingredient of Jajangmyeon, increased by 15.5% in one year, cooking oil (18L) by 22%, and black bean paste (fried black bean paste 10kg) by 8.8%. The price of onions (15kg), an essential vegetable, surged by a staggering 182.5%.

The persistent rise in dining-out prices is a burden for both consumers and self-employed business owners. The 'home-cooked meal' trend, which took hold during COVID-19, is expected to continue this year, with more consumers choosing home meals over dining out, according to industry observers. Self-employed business owners are in a situation where they must reflect the increased costs of ingredients, labor, and gas, but they are anxious about raising prices for fear of losing customers.

Professor Kim Si-wol of Konkuk University's Department of Consumer Studies said, "In Korea, the home-cooked meal trend was activated due to social distancing during COVID-19, and with dining-out costs also rising, this phenomenon will intensify and polarize further. Ultimately, self-employed business owners will likely shift their business models to time-based operations or family-run businesses, marking a turning point in dining-out trends."

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