Samgyeopsal, Kalguksu, and Gimbap Prices Rise... Soaring Costs for Dining Out and Home Meals

Consumer Prices Rise 3.2% Year-on-Year
Food Prices Continue to Climb

The price of pork belly (samgyeopsal) as a dining-out menu item in Seoul has exceeded 21,000 won (for a 200g serving) this year, highlighting a sharp increase in the price of key restaurant dishes. Persistently high inflation and currency exchange rates, combined with factors such as the ongoing conflict in the Middle East between the United States and Iran, have driven up prices of major raw materials, including livestock products. Consumer prices for alternatives to dining out, such as ready-to-eat meals and cooking ingredients, have also risen, adding to overall household food price burdens.

According to the "Chamka-gyeok" price information portal operated by Korea Consumer Agency on July 23, last month the average cost of dining out for pork belly in Seoul was 21,321 won, up 4.3% from the same month last year. The average price for pork belly during the first half of this year was 21,230 won, a 4.3% increase compared to the same period last year. The average restaurant price for samgyetang (ginseng chicken soup) last month and in the first half of the year was 18,154 won, up by 2.8% and 4% respectively over the previous year's figures for the same periods.

Kalguksu, a popular staple noodle dish, saw its average price last month rise to 10,038 won, a 3.6% increase compared to the same period a year ago, with the average price in the first half of this year at 10,006 won, up 4.6% year-on-year. Gimbap, a classic Korean lunch item, averaged 3,838 won last month and 3,806 won in the first half, representing increases of 6% and 6% respectively compared to the same periods last year.

The rise in prices of key ingredients such as pork belly and chicken has been a major driver of the increase in dining-out costs. According to livestock distribution information "Dabom" from the Livestock Products Quality Evaluation Institute, in the first quarter of this year, the average retail price of pork belly was 2,632 won per 100g – up 4.4% year-on-year and 12% higher than the multi-year average. The second quarter average price was 2,776 won, representing a 7.3% increase from the previous year and 9.7% higher than the multi-year average.

Chicken also saw significant increases, with the average retail price in the first quarter reaching 6,085 won per kg — a 7% increase from a year ago and 6.7% higher than the past average. In the second quarter, the price jumped to 6,559 won per kg, up 16.1% year-on-year and 12.1% over the average for previous years, widening the increase. The industry attributes these rises to both a decline in the number of livestock raised and across-the-board increases in costs such as feed and energy required for raising animals.

In fact, "Economic Trends July Issue," published by the Ministry of Economy and Finance, reported that last month, consumer prices increased 3.2% year-on-year, citing broader increases in agricultural, livestock, and fisheries product prices, as well as persistent high oil prices, as the main factors.

Even the cost burden of home-cooked meals using retail-purchased ingredients has grown noticeably. Food manufacturers have started raising prices to reflect increases in the cost of major raw and auxiliary materials. Recently, CJ CheilJedang raised prices by an average of 8% across 27 products in eight categories, including Hetbahn, dumplings, and grilled fish, while Ottogi increased wholesale prices for 29 items. For Ottogi, the average wholesale price increase included: pepper products at 17.0%, glass noodles at 10.0%, curry and ketchup products at 6.1% each. Harim also raised prices by 100–300 won for refrigerated processed foods such as hot bars and chicken breast sold in convenience stores starting July 1, and Sajo raised prices by 6-7% for fish cake and imitation crab products as of July 2.

The Living Necessities Price Index, which is sensitive to fluctuations in frequently purchased and high-expenditure items (such as tofu, ramen, and pork), increased 3.4% year-on-year, largely due to higher prices of food products like vegetables. The Index, which tracks prices on 144 key household items, has shown an ongoing upward trend: 1.8% in February, 2.3% in March, 2.9% in April, 3.3% in May, and 3.4% in June, increasing household perceptions of price pressures. Staples such as rice and potatoes, which are essential items on Korean tables, saw their prices in the first half of this year jump by 15.1% and 10.5% respectively compared to one year ago.

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