People eat in a food court of a department store in Seoul on May 2. Korea Times file |
By Kim Jae-heun
A 32-year-old office worker surnamed Kim said he has been bringing homemade lunches to work for about a month because nearly all the restaurants near his office have increased prices sharply.
"I don't eat expensive food or go to fancy restaurants, but because everything on the menu costs over 10,000 won ($7.90) these days, I decided to bring my own lunch to work. It's the only way to live with my current salary, which didn't rise in tandem," Kim said.
It has been a while since a 43-year-old breadwinner surnamed Kang dined out with his family due to the surging restaurant prices over the past few months.
"I have two children and a wife and if we go out for dinner, I have to spend at least 150,000 won these days. Let's say if we eat out once a week, it would cost 600,000 won per month and this is only what I have to pay for dining out. There is no way I can afford it when I have to pay rent, my children's private education fees and other living costs," he said.
With the dining-out price index rising year-on-year in April by 6.6 percent, the highest increase in 24 years, it has become more difficult for Koreans like Kim and Kang to dine out. Statistics Korea expects the price index will likely accelerate its increase in the coming months in line with soaring international grain prices and rising wages.
Among food items, prices for "galbitang" (short rib soup) increased by the highest rate of 12.1 percent, followed by sashimi at 10.9 percent and "gimbap" (Korean-style seaweed and rice roll) by 9.7 percent. The prices of pizza and fried chicken also rose by 9.1 percent and 9 percent from a year ago, respectively.
The continuous increases in cost of food ingredients such as agricultural and marine products as well as processed foods have been attributed to the rise in overall food prices. In addition, the reopening of the country after the government started lifting COVID-19 quarantine regulations has stimulated the heightened price of dining out.
Rising food delivery costs have also played a part in the increasing costs. Statistics Korea said the higher inflation rates of fried chicken, pizza and "jjajangmyeon" (black-bean-sauce noodle) prove just how much the price increase for delivery services has contributed to overall dining out expenses in the country.
"Supply and demand issues in the country are pushing up food prices all at once in Korea. The price of eating out is the first to hit people's wallets, so many will be less likely to dine out for a while," said Lee In-ho, a professor of the Department of Economics at Seoul National University.