Cost of dining out in Seoul continues to rise

The escalating cost of dining out in Seoul is a matter of concern. The average price of one serving (200 grams) of pork belly at a restaurant in Seoul has now reached the 20,000 won range for the first time, indicating a continuous surge in dining prices. This means that a meal for two, including two servings of pork belly and a bottle of soju, would cost around 45,000 won. The prices of other popular eat-out items such as kimbap, jajangmyeon, bibimbap, and kimchi stew, have also seen a significant increase.

According to the price information portal “Real Price,” run by the Korea Consumer Agency, the price of one serving of pork belly, one of the most popular restaurant menu items among consumers, in Seoul last month was 20,083 won. This was up from 19,981 won in April, increasing by 102 won (0.5%). The price has risen by 3,502 won (21.1%) compared to the price in May 2021 (16,581 won) three years ago.

The price of 200 grams of pork belly exceeded 16,000 won in November 2017. Since then, it has steadily risen to the 17,000-won range in September 2021 and the 18,000-won range in July 2022. It then rose to the 19,000-won range in December last year.

The recent increase in the price of pork belly can be attributed to the higher pork prices. According to the Korean Livestock Products Quality Evaluation Institute, the average wholesale price of 1 kilogram of pork was 5,885 won as of June 11, 2024, the highest this year. This price surge is a result of the impact of African Swine Fever (ASF), which has led to a decrease in the number of pigs raised, thereby affecting the supply and demand dynamics.


이민아 기자 omg@donga.com