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Korean food prices sky-high. 12% jump this year. CNN
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Swampfox10mm



Joined: 24 Mar 2011

PostPosted: Tue Nov 27, 2012 5:37 pm    Post subject: Korean food prices sky-high. 12% jump this year. CNN Reply with quote

http://edition.cnn.com/video/?hpt=hp_t3#/video/business/2012/11/27/hancocks-skorea-kimchi-inflation.cnn


So much for the old, "Korean food is cheap..." argument.

I've really noticed a jump in many things this year. The prices quote here really hit home.

Cabbage head was $1.80 a year ago, now $3.00. Radishes have almost doubled in price.
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JustinC



Joined: 10 Mar 2012
Location: We Are The World!

PostPosted: Tue Nov 27, 2012 5:52 pm    Post subject: Reply with quote

Oh no, kimchi is more expensive! How will I fund my addiction now? I will have to cut back on other things like chilli and spaghetti to satiate my hunger for all things kimchi and kimchi-based. Woe is me and my poor stomach.
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metalhead



Joined: 18 May 2010
Location: Toilet

PostPosted: Tue Nov 27, 2012 6:11 pm    Post subject: Reply with quote

I never thought that Korea was cheap when it came to food, but why on earth are tomatoes so expensive here these days? At places like Home Plus and Emart, it's cheaper to buy chicken breasts than the same amount of tomatoes these days (proper tomatoes, not those tiny cherry ones).
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Swampfox10mm



Joined: 24 Mar 2011

PostPosted: Tue Nov 27, 2012 6:17 pm    Post subject: Reply with quote

JustinC wrote:
Oh no, kimchi is more expensive! How will I fund my addiction now? I will have to cut back on other things like chilli and spaghetti to satiate my hunger for all things kimchi and kimchi-based. Woe is me and my poor stomach.


And I promise that you would have whined like a 2 year-old about how comparatively cheap Korean food is if I had mentioned how expensive foreign foods were.

Some people just hate their little hagwon jobs and are angry at life, eh?
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JustinC



Joined: 10 Mar 2012
Location: We Are The World!

PostPosted: Tue Nov 27, 2012 6:26 pm    Post subject: Reply with quote

Swampfox10mm wrote:
JustinC wrote:
Oh no, kimchi is more expensive! How will I fund my addiction now? I will have to cut back on other things like chilli and spaghetti to satiate my hunger for all things kimchi and kimchi-based. Woe is me and my poor stomach.


And I promise that you would have whined like a 2 year-old about how comparatively cheap Korean food is if I had mentioned how expensive foreign foods were.

Some people just hate their little hagwon jobs and are angry at life, eh?


Whoops. Easy tiger! Laughing

Not trying to flame you, I was being sarcastic about kimchi only. Foreign food is too expensive for my wallet, I have to shop more carefully here than other places.

I actually love my job
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dairyairy



Joined: 17 May 2012
Location: South Korea

PostPosted: Tue Nov 27, 2012 8:28 pm    Post subject: Reply with quote

Prices for everything have been rising.
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Underwaterbob



Joined: 08 Jan 2005
Location: In Cognito

PostPosted: Tue Nov 27, 2012 8:51 pm    Post subject: Reply with quote

metalhead wrote:
I never thought that Korea was cheap when it came to food, but why on earth are tomatoes so expensive here these days? At places like Home Plus and Emart, it's cheaper to buy chicken breasts than the same amount of tomatoes these days (proper tomatoes, not those tiny cherry ones).


Tomatoes are expensive now mostly because they are out of season.

Go to local markets people! Much cheaper and you're (at least more likely) supporting the farmers.
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newb



Joined: 27 Aug 2012
Location: Korea

PostPosted: Wed Nov 28, 2012 1:52 am    Post subject: Reply with quote

It's because Korean love paying high prices for food.

Some reason, they just want Korean meat, veggies, fruits, processed food which are very high in price compared to imported stuff. There are a few smart Korean brothers who import the cheap stuff and re-bag/label it as Korean stuff to jack up the price for higher profit.

Almost all restaurants serve mix of imported Chinese/N.American/S. American/European/SE Asian stuff with Korean stuff, but how would other Korean brothers know? They just look at the high price thinking that everything is prepared with Korean stuff.
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highstreet



Joined: 13 Nov 2010

PostPosted: Wed Nov 28, 2012 2:22 am    Post subject: Reply with quote

newb wrote:
It's because Korean love paying high prices for food.

Some reason, they just want Korean meat, veggies, fruits, processed food which are very high in price compared to imported stuff. There are a few smart Korean brothers who import the cheap stuff and re-bag/label it as Korean stuff to jack up the price for higher profit.

Almost all restaurants serve mix of imported Chinese/N.American/S. American/European/SE Asian stuff with Korean stuff, but how would other Korean brothers know? They just look at the high price thinking that everything is prepared with Korean stuff.


If Koreans love paying high prices for food, why are there cheap kimbab restaurants on every corner? Also, why are stores like 999 Mart always running out of imported meat to sell by the end of the day?

Any restaurant that serves a mix of imported ingredients list them on the menu/wall. I don't think I've ever been in a restaurant that doesn't list the country of origin for the meat, vegetables, kimchi, etc.
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newb



Joined: 27 Aug 2012
Location: Korea

PostPosted: Wed Nov 28, 2012 3:09 am    Post subject: Reply with quote

highstreet wrote:
newb wrote:
It's because Korean love paying high prices for food.

Some reason, they just want Korean meat, veggies, fruits, processed food which are very high in price compared to imported stuff. There are a few smart Korean brothers who import the cheap stuff and re-bag/label it as Korean stuff to jack up the price for higher profit.

Almost all restaurants serve mix of imported Chinese/N.American/S. American/European/SE Asian stuff with Korean stuff, but how would other Korean brothers know? They just look at the high price thinking that everything is prepared with Korean stuff.


If Koreans love paying high prices for food, why are there cheap kimbab restaurants on every corner? Also, why are stores like 999 Mart always running out of imported meat to sell by the end of the day?

Kimbab restaurants on every corner? Do you think there are more cheap kimbab restaurants than more traditional Korean restaurants? Do you think more Koreans patronize at kimbab restaurants compared to cheap kimbab restaurants? Also, 999 Mart always run out of imported meat because Korean BBQ restaurants buy 'em up before regular consumers can get to 'em.

Any restaurant that serves a mix of imported ingredients list them on the menu/wall. I don't think I've ever been in a restaurant that doesn't list the country of origin for the meat, vegetables, kimchi, etc.

Obviously, cheap kimbab restaurants or alike that you usually patronize will list the imported ingredients because people know cheap servings cannot be Korean ingredients. If you go to normal restaurants, they list almost everything is Korean. However, there are numerous reports that what I've said is happening in almost all restaurants to cheat the customers. Customers just end up paying more money for cheap imported stuff that are labeled as Korean stuff. Some veggies you buy at homeplus or e-mart were found to be Chinese imports recently and the supplier were busted for re-labeling/packing the veggies as Korean. Same with rice, meat, etc. etc. So enjoy your imported food labeled as Korean with higher price like Koreans do.
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Dave Chance



Joined: 30 May 2011

PostPosted: Wed Nov 28, 2012 4:00 am    Post subject: Reply with quote

Things are tightening up globally.

Get with the program or get outta the way, basically.

If you get into an accident that impairs you for a while or sustain a prolonged illness for some reason, tough beans, baby.
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PatrickGHBusan



Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -

PostPosted: Wed Nov 28, 2012 8:15 am    Post subject: Reply with quote

Korean food prices are rising and have been rising for a bit. We notice everytime we visit and go do some groceries. Restaurant prices for K-food have also risen in Busan but not that much compared to groceries.

It will hit your wallet and NO ONE likes paying a lot for food by the way!

Food prices are rising in other places too (Europe and North America). Where we live in Canada, in the short 4 years since we moved here, food prices rose pretty steeply for many items (cereal, meat, some fruits and veggies). My wife kept some grocery bills over the years to compare and we were shocked at the price increase (family of 4 here). Gas prices have also risen dramatically but are not yet as high as they are in Busan. However, on average, restaurants cost more here (where we live).

Anyway you cut it, your budget will change as food prices increase and you will find ways to maximise your food dollars/Won. We shop at local farmers markets when we can and focus on things that are in season. We also buy larger quantities and freeze stuff for later.

My wife`s brother in Busan has 3 kids and they have had to budget for the food increase as well. They buy in bulk as a family and share as that drove down the cost for them.
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nautilus



Joined: 26 Nov 2005
Location: Je jump, Tu jump, oui jump!

PostPosted: Wed Nov 28, 2012 8:56 am    Post subject: Reply with quote

PatrickGHBusan wrote:

Food prices are rising in other places too (Europe and North America). Where we live in Canada, in the short 4 years since we moved here, food prices rose pretty steeply


It will get progressively worse.

Climate change has begun to affect global food supply.
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highstreet



Joined: 13 Nov 2010

PostPosted: Wed Nov 28, 2012 10:13 am    Post subject: Reply with quote

newb wrote:
highstreet wrote:
newb wrote:
It's because Korean love paying high prices for food.

Some reason, they just want Korean meat, veggies, fruits, processed food which are very high in price compared to imported stuff. There are a few smart Korean brothers who import the cheap stuff and re-bag/label it as Korean stuff to jack up the price for higher profit.

Almost all restaurants serve mix of imported Chinese/N.American/S. American/European/SE Asian stuff with Korean stuff, but how would other Korean brothers know? They just look at the high price thinking that everything is prepared with Korean stuff.


If Koreans love paying high prices for food, why are there cheap kimbab restaurants on every corner? Also, why are stores like 999 Mart always running out of imported meat to sell by the end of the day?

Kimbab restaurants on every corner? Do you think there are more cheap kimbab restaurants than more traditional Korean restaurants? Do you think more Koreans patronize at kimbab restaurants compared to cheap kimbab restaurants? Also, 999 Mart always run out of imported meat because Korean BBQ restaurants buy 'em up before regular consumers can get to 'em.

Any restaurant that serves a mix of imported ingredients list them on the menu/wall. I don't think I've ever been in a restaurant that doesn't list the country of origin for the meat, vegetables, kimchi, etc.

Obviously, cheap kimbab restaurants or alike that you usually patronize will list the imported ingredients because people know cheap servings cannot be Korean ingredients. If you go to normal restaurants, they list almost everything is Korean. However, there are numerous reports that what I've said is happening in almost all restaurants to cheat the customers. Customers just end up paying more money for cheap imported stuff that are labeled as Korean stuff. Some veggies you buy at homeplus or e-mart were found to be Chinese imports recently and the supplier were busted for re-labeling/packing the veggies as Korean. Same with rice, meat, etc. etc. So enjoy your imported food labeled as Korean with higher price like Koreans do.


Aren't cheap kimbab restaurants and traditional Korean restaurants basically on the same scale? The difference is about 2-3 bucks.

I've never been to an restaurant that labelled everything Korean. Even the crappy Hanwoo restaurant I went to that was 90K for 300 grams had imported veggies listed on the menu.

I don't doubt that some places relabel stuff though.
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PatrickGHBusan



Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -

PostPosted: Wed Nov 28, 2012 10:13 am    Post subject: Reply with quote

Well it will not go back down that is for sure....
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