Seoul Dining Prices Surge as Kimbap, Pork Belly Hit New Highs

Finance|
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By Lee In-Ae
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Prices of popular dining-out options in Seoul have risen consecutively, snowballing the burden of living costs on ordinary consumers. Cases have emerged where kimbap, once considered a simple meal, now costs 4,000 won, while a single serving of pork belly has exceeded 20,000 won, sparking shock and anger among consumers.

According to data released Wednesday by the Korea Consumer Agency's price information portal "Chamgagyeok," average prices of eight consumer-preferred dining-out menu items in Seoul rose 3-5% in November compared to the same month last year. Price increases were particularly notable for menus traditionally perceived as "common people's food" due to their relative affordability.

A prime example is kimbap (Korean rice rolls). Kimbap, which cost 3,500 won in November last year, rose to an average of 3,700 won this November, up 5.7% year-on-year. Kalguksu (knife-cut noodle soup), another casual dining option, increased 4.9% from 9,385 won to 9,846 won, approaching the 10,000 won threshold.

Kimchi-jjigae baekban (kimchi stew set meal), a popular lunch menu, rose 4.7% from 8,192 won to 8,577 won. Samgyetang (ginseng chicken soup) increased 4.2% from 17,269 won to 18,000 won, with some specialty restaurants already charging over 20,000 won.

Naengmyeon (cold noodles) rose 4.2% from 11,923 won to 12,423 won, while samgyeopsal (pork belly, 200g serving) increased 3.9% from 20,083 won to 20,861 won. Bibimbap and jajangmyeon also rose 3-3.4%, from 11,192 won to 11,577 won and from 7,423 won to 7,654 won, respectively.

The surge in dining-out prices is attributed to multiple cost pressures. Restaurants face rising labor costs due to minimum wage increases, higher rent, and increased utility bills for electricity and gas. Additionally, the won's depreciation against the dollar has pushed up prices of imported ingredients, adding to the cost burden on the restaurant industry.

"Restaurants selling lower-priced items like kimbap, kalguksu, and kimchi-jjigae are more significantly affected by fixed cost increases such as labor expenses," an industry official said.

With high inflation and elevated exchange rates expected to persist for the time being, the burden of dining-out costs is unlikely to ease in the short term. As prices of everyday dining options continue to rise, household financial pressure is expected to intensify further.

Meanwhile, personal service fees in Seoul have also risen across the board. Dry cleaning costs for a men's suit rose 12.2% from 9,462 won to 10,615 won, surpassing the 10,000 won mark. Men's haircut fees increased 4.3%, women's haircut fees rose 3.7%, and accommodation (inn) and public bath fees increased 3.8% and 2.2%, respectively.

Original reporting by Lee In-Ae for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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