If you thought that coffee shops were expensive in Korea before, well they are about to get more expensive this summer:
Coffee franchises are raising prices, making consumers anxious that it might cause a domino effect ahead of the summer, the high season for beverage sales.
Starbucks Coffee Korea, the nation’s leading coffee franchise, announced on Thursday that it will charge 300 won more on 32 of its drinks starting Monday. Caffe Bene, which has the greatest number of stores here, also raised prices last month of the drinks sold at its main Gangnam store in southern Seoul.
“The milk price, labor costs and rent all sharply rose last year. We have been tolerating the factors until now, but could no longer avoid the price adjustment,” said Starbucks through a statement.
The coffee house also took off 100 won to 200 won from prices of 13 drinks and maintained those of 10. But consumers find it rather mean as the price increase mainly occurred on the best selling products including the top five ― americano, cafe latte, caramel macchiato, cafe mocha and green tea frappuccino. The ones marked down include less popular items like lavender earl grey or white mocha frappuccino.
Caffe Bene increased around 100 won to 500 won of the drink prices main Gangnam store. The price of the americano, for example, rose from 4,000 won to 4,500 won and cafe latte from 5,000 won to 5,300 won. [Korea Herald]
The only coffee I like to drink in Korea is Dunkin Donuts; I wonder if their prices are going up as well?