Infographic | Fried Chicken Turns Into a Luxury as Prices Soar Across South Korea
Related: As Chicken Prices Soar, Koreans Turn to Supermarket Counters for Affordable Alternatives
Budget Bakery Boom as Inflation Pushes Koreans Toward Convenience Store Bread
SEOUL, Oct. 10 (Korea Bizwire) — As soaring bakery prices push past 10,000 won for just a few items at franchise shops, Koreans are increasingly turning to low-cost private label (PB) bread sold at convenience stores and large retailers. The shift has fueled what industry insiders are calling a “budget bakery boom,” with PB bread [...]
Korean Food Prices Surge 23% in Five Years, Outpacing Broader Inflation
SEOUL, Oct. 8 (Korea Bizwire) — Food prices in South Korea have risen more than 20 percent over the past five years, far outpacing overall inflation and placing a growing strain on household budgets. According to data released Wednesday by the National Data Office, the consumer price index for “food and non-alcoholic beverages” in September [...]
Soaring Cost of Living Stifles Consumer Recovery, Bank of Korea Warns
SEOUL, June 18 (Korea Bizwire) — The Bank of Korea has raised alarm over South Korea’s persistently high cost of essential goods, warning that it is outpacing both inflation and global averages, and is stifling consumer spending—particularly among low-income households. In a report released Wednesday, the central bank found that from the onset of the [...]
Grocery Sticker Shock: South Korea Faces Second-Highest Food Prices Among OECD Countries
SEOUL, June 15 (Korea Bizwire) — For many South Korean households, the rising cost of everyday groceries is no longer just an inconvenience—it’s a growing burden. From fresh eggs to packaged snacks, the price tags lining supermarket shelves are fueling consumer frustration and prompting government action. According to data released Sunday, South Korea ranked as [...]
Gov’t Moves to Curb Inflation with Emergency Tariff Cuts on Pork, Egg Imports
SEOUL, April 11 (Korea Bizwire) — The Finance Ministry said Friday that the government will extend the tariff-rate quota system on pork and egg product imports in an effort to stabilize food prices. Starting May 1, emergency tariff quotas will be applied to 10,000 tons of raw pork for processed foods and 4,000 tons of [...]
Tuition Hikes at Private Universities Fuel Inflation Concerns in South Korea
SEOUL, April 8 (Korea Bizwire) — A wave of tuition increases at South Korean private universities this semester has emerged as a key driver of inflation, with fears mounting that more institutions—particularly public ones—may follow suit in 2026, deepening financial strain on students and households. According to government data, tuition hikes at nearly 70% of [...]
Inflation Hits Low-Income Koreans Hardest, Study Finds
SEOUL, April 3 (Korea Bizwire) — A decade-long analysis by the Korea Economic Research Institute (KERI) has revealed that low-income households in South Korea have borne a disproportionately heavier burden from rising prices, primarily due to steep increases in food and housing costs. The study, released Wednesday, examined consumer-perceived inflation across income brackets from 2014 [...]
As Global Temperatures Rise, South Korea Confronts Escalating Wildfires and Food Price Shocks
SEOUL, March 27 (Korea Bizwire) — With the Earth’s average temperature now 1.5 degrees Celsius higher than pre-industrial levels, climate change is no longer a distant threat but a force reshaping daily life in South Korea and around the world. Wildfires are becoming larger, more frequent, and less predictable. According to Korea’s National Forest Service, the [...]
7 in 10 Households Say Financial Situation Has Worsened: Poll
SEOUL, March 20 (Korea Bizwire) — Around seven out of 10 South Korean households perceive their financial situation having worsened compared to a year ago due to inflation, a poll showed Thursday. According to the survey carried out by the Federation of Korean Industries (FKI) on 1,000 adults nationwide recently, 71.5 percent of respondents said [...]