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