THE KOREA HERALD – Despite enjoying increased sales from the ongoing “lunchflation”, fast food joints in South Korea have been raising their burger prices, citing surging production costs amid lingering inflation fears.
Mom‘s Touch, a homegrown chicken chain, said yesterday that it will raise the prices for 50 products by USD0.15-USD0.31 starting tomorrow. This is the second price hike by the burger joint this year alone.
Mom’s Touch explained that the decision was made “with a heavy heart to preserve the profitability of franchise stores amid rising poultry, flour and cooking oil prices”.
Meanwhile, other local burger franchises, including Lotteria, Burger King and KFC, have all recently implemented similar measures.
Lotteria was the first to introduce price hikes, charging customers 5.5 per cent more on 81 of their menu items starting June. KFC followed a month later, raising its burger prices by 8.2 per cent. Burger King bumped up the prices for 46 of its products by 4.5 per cent on Friday, including its signature item, the Whopper.
All four fast food chains had already introduced a first round of price hikes between December and January.
McDonald‘s Korea is currently the only major burger joint not raising its prices in the second half of 2022.