A Bowl of Samgyetang for 20,000 Won? Office Workers Face a Heavier Lunch Bill

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[Financial News] The prices of naengmyeon and samgyetang, two popular summer dining staples, have risen again. The average price of naengmyeon in Seoul has climbed well above 12,000 won, while samgyetang is nearing 20,000 won. Concerns are growing that office workers are facing an increasingly heavy burden for a single lunch.
According to News1, the Korea Consumer Agency's Price Information Portal "Chamgagyeok," and other sources on the 31st of last month, the average price of naengmyeon in Seoul stood at 12,615 won in April. That was up 4.13% from 12,115 won in the same period last year.
Well-known naengmyeon restaurants across Seoul have also raised prices one after another. Woo Lae Oak increased the price of a serving of Pyongyang naengmyeon from 16,000 won to 18,000 won starting in April, while Nampo Myeonok raised its price from 15,000 won to 16,000 won.
Other naengmyeon restaurants are also charging in the upper 10,000-won range. Eulmildae Pyeongyang Naengmyeon sells it for 16,000 won, while Pildong Myeonok, Eulji Myeonok, and Pyongyang Myeonok each charge 15,000 won.
The rise in naengmyeon prices is largely attributed to higher raw material costs.
According to the Korea Agro-Fisheries & Food Trade Corporation (aT), the price of 100 grams of Korean beef brisket in Seoul reached 6,918 won as of the 29th of last month, up 14.7% from 6,031 won a year earlier. Analysts also point to added pressure from labor and rent costs.
The price of samgyetang, a classic summer health food, has also gone up.
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As of April, the average price of samgyetang in Seoul was 18,154 won, up 3.7% from 17,500 won a year earlier. Among the country's 17 cities and provinces, Seoul is the only place where the price exceeds 18,000 won.
Famous samgyetang restaurants in Seoul have pushed the price of a single bowl to around 20,000 won. One samgyetang restaurant in Yeongdeungpo District charges 19,000 won per serving, while a well-known restaurant in Jongno District sells it for 20,000 won.
Rising chicken prices have also contributed to the increase in samgyetang costs. More than 300,000 broiler breeder chickens were culled last winter after an outbreak of highly pathogenic avian influenza, reducing supply and pushing chicken prices higher. As of the 29th of last month, the average price of chicken stood at 6,591 won per kilogram, up 16.7% from 5,648 won a year earlier.
The problem is that the upward trend in dining-out prices is likely to continue for some time.
The Bank of Korea raised its forecast for consumer inflation this year by 0.5 percentage points, from 2.2% to 2.7%. It said surging global oil prices and a weaker won, driven by the prolonged conflict in the Middle East, are adding pressure across the broader price level. As a result, office workers are likely to feel even more strain over lunch costs.
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newssu@fnnews.com Kim Su-yeon Reporter