McDonald’s Korea is set to increase prices on 20 menu items next week, less than a year after a broad price hike on key products in May 2024.
The hamburger chain announced Friday that 20 menu items, including the Bulgogi Burger and cheeseburger, will see an average price increase of 2.3 percent, ranging from 100 won ($0.07) to 300 won.
McDonald’s Korea cited fluctuating currency exchange rates and rising material costs as the primary reasons for the latest price adjustment.
Under the new pricing policy, the Big Mac burger will remain at its current price, but a Big Mac Meal, which includes french fries and a drink, will increase to 7,400 won -- a 200 won hike -- while the McSpicy Shanghai Burger Meal will remain unchanged from last year.
In May 2024, McDonald’s Korea raised the prices of 16 menu items by approximately 3 percent, attributing the increase to higher costs for food logistics and labor.
The upcoming price increase aligns with a nationwide trend, as many major food companies have announced price hikes in response to rising costs, partly driven by declining consumer sentiment amid Korea's prolonged political turmoil.
According to Statistics Korea, in February, the price of processed foods recorded its largest on-year increase in 13 months, rising 2.9 percent, while dining-out prices rose by 3 percent.
spark@heraldcorp.com
