Is the Era of 20,000 Won Samgyeopsal Coming...? Prices of Toilet Paper, Ramen, and Eggs All Increased

February Consumer Agency True Price, Prices of 7 Essential Daily Goods Revealed

The era of a 20,000 won per serving price for Samgyeopsal, a popular dining-out menu, is expected to open soon. Among the eight representative dining-out menus in Seoul, three items?Samgyeopsal, Naengmyeon, and Bibimbap?showed an upward trend again last month.

According to the Korea Consumer Agency's price information portal 'Chamgagyeok' on the 12th, among the eight representative dining-out menus popular with consumers in Seoul last month, the price of Naengmyeon increased from 11,385 won to 11,462 won. Samgyeopsal (200g) also rose again from 19,429 won to 19,514 won.

Under high inflation, the price of dining out for Samgyeopsal has risen again, reaching 19,514 KRW per serving (200g).
[Photo by Yonhap News]

The prices of five other menus?Gimbap (3,323 won), Jajangmyeon (7,069 won), Kalguksu (9,038 won), Samgyetang (16,846 won), and Kimchi Jjigae set meal (8,000 won)?remained the same on average in February compared to January.

February Sales Price Change Rates of 7 Major Daily Necessities [Photo by Korea Consumer Agency Cham Price Data]

The Consumer Agency also released last month’s sales price survey results for 27 frequently consumed processed foods and seven key items under intensive management through Chamgagyeok. Previously, the agency announced plans to closely monitor prices of seven major daily necessities?milk, ramen, eggs, flour, sugar, cooking oil, and toilet paper?and conduct investigations if unreasonable price hikes are suspected.

Among the seven items last month, prices of four items? toiler paper (5.0%), ramen (1.2%), eggs (0.8%), and sugar (0.1%)?rose compared to the previous month. Meanwhile, prices of milk (-2.4%), flour (-2.4%), and cooking oil (-3.9%) decreased.

Average Prices of 8 Dining-Out Menus in Seoul for January and February
[Photo by Korea Consumer Agency, Chamgagaek Data]

Meanwhile, the Consumer Organizations Council urged companies on the 5th of last month to lower the prices of flour and cooking oil, which use soybean oil and wheat as raw materials, as their prices have fallen to about half of last year’s peak following the sharp rise caused by the 2022 Russia-Ukraine war. Although major food companies raised product prices and some cases of price freezes or reductions occurred, the council claims that the decline in raw material prices has not been properly reflected.

The government is also signaling the food industry to reduce prices. On the 6th, at the Price-Related Ministers’ Meeting, Choi Sang-mok, Deputy Prime Minister and Minister of Strategy and Finance, stated, “If food companies raised prices due to rising raw material costs, they must properly lower prices in a timely manner when raw material prices fall, so that the public can accept it as reasonable business conduct.”

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