Puradak Chicken, a major franchise, raised prices on 10 menu items by up to 1,000 won ($0.68) on Dec. 30, attributing the increase to higher costs of raw materials, rent, and delivery app commissions.
Coffee Bean Korea increased the prices of chocolate-based beverages by 200 won on Dec. 26, citing soaring cocoa prices, which have surged 172 percent over the past year due to poor harvests and climate change.
"With raw material costs rising and the won-dollar exchange rate surging, prices for food, beverages, and daily necessities are likely to continue climbing this year," said an industry official, predicting intensified price competition among retailers.
Major retailers and convenience stores have also implemented price increases on popular snacks. Orion's Choco Songi rose from 1,000 won to 1,200 won, while Haitai Confectionery increased prices on 10 products by an average of 8.6 percent.
Dong-A Otsuka raised beverage prices by 100 won for popular drinks, including Pocari Sweat and Demisoda, citing higher raw material and logistics costs.
Personal care products have not been spared. Tempo sanitary products increased from 6,800 won to 7,900 won, while Mise-en-Scène shampoo rose from 17,000 won to 18,000 won.
Beauty companies joined the trend, with LG Household & Healthcare's high-end brand O Hui increasing prices by up to 6,000 won on major product lines. Able C&C also raised prices on 18 products across its Missha and A'pieu brands by up to 2,000 won.
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