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'16,000 won for one loaf'... South Koreans sigh at prices higher than Japan, US, France
🇰🇷 South Korea /Economy & Trade

'16,000 won for one loaf'... South Koreans sigh at prices higher than Japan, US, France

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Context piece
  • Online discussions reveal shock over bread prices in South Korea, with some loaves costing 15,000-16,000 won.
  • This has led to comparisons with prices in Japan, the US, and France, with a report indicating South Korea's bakery price index is higher.
  • Major bakery chains like Paris Baguette are also increasing prices, contributing to public dissatisfaction with rising consumer costs, termed 'breadflation'.

A viral online post showcasing bread priced at 15,000 to 16,000 won (approximately $11-$12 USD) has sparked widespread public outcry in South Korea over soaring bakery costs. The image, shared on an online community, prompted reactions of disbelief, with many questioning who would purchase such expensive bread.

Who would buy that?

— Online userExpressing disbelief at the high price of bread shown in an online post.

Commenters expressed sticker shock, with one user stating they would "just add a little more and eat chicken" instead, while another remarked that two such loaves would cost as much as a whole cake. Some suggested that prices should be significantly lower, around 5,000-6,000 won, arguing that the current prices are unreasonable. However, a counterargument emerged, suggesting that given the recent overall increase in bakery prices, the displayed cost might not be entirely out of line, as a few items at a pastry shop can easily amount to tens of thousands of won.

I'll just add a little more and eat chicken.

— Online userComparing the cost of expensive bread to other meal options.

Data supports the public's concern. A May report by Samil PwC indicated that South Korea's bakery price index is projected to reach 138 by 2025, surpassing Japan (126), the United States (126), and France (120). This analysis suggests that the price level of the domestic bakery market is indeed higher than in these major countries.

If I buy two of those, I could buy a whole cake.

— Online userHighlighting the disproportionate cost of the bread relative to other bakery items.

The trend of rising prices is further exemplified by major bakery chains. Paris Baguette, for instance, announced a price increase of an average of 5% for 127 items, including 86 types of bread and 41 types of cakes and desserts, effective August 25. This contributes to a broader sentiment of dissatisfaction with the general rise in consumer prices, with one user lamenting that bread cost only 1,000-2,000 won in the 1990s. The persistent increase in bread prices and the growing financial burden on consumers are reigniting public attention on 'breadflation'.

Take out the '1' at the beginning. Even 5,000-6,000 won is expensive, are they kidding?

— Online userSuggesting a more reasonable price range and expressing frustration.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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