The price of mango bingsu at upscale hotels in South Korea has been steadily climbing. (Image courtesy of Yonhap)
SEOUL, Apr. 25 (Korea Bizwire) – The price of mango bingsu (shaved ice desserts) at upscale hotels in South Korea has been steadily climbing, with a new offering from Signiel Seoul now costing a staggering 130,000 won.
According to hotel industry reports from April 24, Signiel Seoul began selling its ‘Signature Jeju Apple Mango Bingsu’ for 130,000 won on April 22, reflecting a 2.4% increase from last year’s price of 127,000 won.
A Signiel representative cited rising prices of Jeju mangoes and general inflation as the reasons for the hike, adding that the plating presentation has also been updated from last year’s offering.
Mango bingsu desserts at luxury hotels have gained immense popularity among the MZ generation (those born between the early 1980s and early 2000s), with prices seeing an annual uptick.
Starting April 26, the mango bingsu at the Shilla Hotel in Seoul will be priced at 102,000 won, up 4.1% from last year. Meanwhile, Grand Walker Hill Seoul’s The Pavilion will sell its melon mango bingsu for 73,000 won from May 1, reflecting a 5.8% increase compared to the previous year.
However, the Four Seasons Hotel Seoul, which generated buzz last year by pricing its apple mango bingsu at 126,000 won, has decided to maintain the same price point this year.
One hotel industry official explained, “While imported mango prices have been declining, the cost of Jeju apple mangoes has been rising.” The official added that other factors, such as increased labor costs, have also contributed to the price hikes.
According to the Seoul Agro-fisheries and Food Corporation’s pricing data from the Garak Market, domestically grown mangoes (3kg, premium grade) were trading at an average price of 161,000 won on the day, representing a 40% increase from the same period last year when the average price was 115,000 won.
Ashley Song (ashley@koreabizwire.com)
