Tag: price hike

price hike

Latest News

A tourist takes a photo of a promotional event announcing boy band BTS's comeback, at the Sejong Center for the Performing Arts in Jongno District, central Seoul, on Jan. 22. [YONHAP]

BTS summer concert causes Busan lodging prices to skyrocket

Average hotel rates in Busan have more than doubled for the weekend of BTS’s June concert, with some up to 7.5 times their usual prices, according to the government.

2026.2.13

LG Electronics CEO William Cho talks to reporters ahead of his lecture to students at Seoul National University's Gwanak Campus on April 24. [YONHAP]

LG may raise appliance prices in U.S. in response to tariffs

LG Electronics CEO William Cho said the company may consider raising the prices of home appliances sold in the United States if tariffs imposed by Washington exceed manageable levels.

2025.4.25

Most popular

A person browses items at a convenience store in Seoul on April 14. [YONHAP]

FTC to probe snack and ramyeon makers for price hike collusion

The Fair Trade Commission dispatched investigators to five major food companies — Nongshim, Orion, Haitai, Lotte Wellfood and Crown Confectionery — to examine suspicions of collusion in snack and instant noodle price hikes.

2025.4.14

A man picks out his chicken bucket at a discount mart in downtown Seoul on Sunday. [YONHAP]

Fried chicken buckets make comeback as franchises hike prices

Fried chicken buckets priced around 10,000 won ($7.23) at discount marts and convenience stores are becoming increasingly popular as big chicken franchise chains hike their prices through higher delivery fees.

2024.6.2

Two women shop at a discount mart in downtown Seoul on Sunday. [YONHAP]

Food, beverage prices surge as costs get passed down

Consumer burdens are expected to increase as the prices of processed food, beverages and franchise food such as chocolate, coke, soda, gim (dried seaweed) and soy sauce products surge.

2024.6.2

Seafood prices spike

Amid soaring seafood prices, the wholesale price of gim (dried seaweed) per bundle jumped 38 percent on year to 9,072 won ($6.89), according to Korea Agro-Fisheries & Food Trade Corporation on Thursday.

2024.3.14

A person taps in with a transit card to enter Jongno 3-ga Station in central Seoul on Oct. 8. [YONHAP]

Seoul may raise subway fare by 10% as early as July

Subway fares in Seoul may increase by 150 won ($0.11) as early as July.

2024.1.8

A couple leaves a Hermès store in Paris with shopping bags. Picture taken in 2013. [REUTERS/YONHAP]

Chanel, Hermès, Prada to hike prices in the new year

Luxury brands including Hermès, Prada and Chanel are expected to raise their prices in Korea as demand for premium goods grows. Increases impact shoes, bags, watches and jewelry.

2024.1.3

Springing onions

The wholesale price of green onions is anticipated to surge 48.5 percent on month to 2,700 won ($2.09) per kilogram for December, according to the Korea Rural Economic Institute on Sunday.

2023.12.3

Not-so-Happy Meals

A customer selects menu items from a kiosk at a McDonald's in downtown Seoul on Wednesday. McDonald's Korea will raise its prices by an average of 4.8 percent starting Thursday, in a second price hike this year after the fast food chain raised...

2022.8.24