Gimbap and Kimchi Jjigae Are No Longer Just Commoners' Food... Rising Dining-Out Costs Continue

Only 4 Items Available Under 10,000 Won
2 Out of 8 Items in November True Price Dining Costs Increased

Amid rising dining-out prices this year, a new term "lunchflation" (sharp increase in lunch prices) has emerged, and it has been found that the prices of gimbap and kimchi jjigae among eight representative dining-out items in Korea rose again last month.

According to the Korea Consumer Agency's comprehensive price information portal 'Chamgagyeok' on the 14th, the price of gimbap in Seoul increased from 3,254 won in October to 3,292 won in November, and the price of kimchi jjigae set meal rose from 7,846 won to 7,923 won during the same period.

The price of gimbap rose from 2,969 won in July last year to 3,046 won in August last year, surpassing the 3,000 won mark and has continued to increase since then.
Photo by Asia Economy DB

The price of gimbap has been on the rise since it surpassed the 3,000 won mark, increasing from 2,969 won in July last year to 3,046 won in August last year.

The price of gimbap, which was 3,215 won in September, rose for two consecutive months from 3,254 won in October to 3,292 won in November.

The price of kimchi jjigae also rose from 7,654 won in January to 7,846 won in May, remained steady for five months, and then increased to 7,923 won last month. The dining costs for the other six items remained the same as in October, but since they have already risen significantly, the burden of dining-out prices on ordinary people continues.

Looking at the prices of the six items, a bowl of jajangmyeon costs 7,069 won, kalguksu 80,962 won, naengmyeon 11,308 won, one serving (200g) of samgyeopsal 19,253 won, samgyetang 16,846 won, and bibimbap 10,577 won.

In Seoul, the menus that can be eaten for 10,000 won are only four items: gimbap, jajangmyeon, kalguksu, and kimchi jjigae set meal.

According to last month's personal service fees in Seoul, the cost of a haircut is 12,000 won, and the cost of a bath is 10,000 won, both unchanged from October. The haircut and bath fees have not changed since July and September, respectively.

Popularity of Ready-to-Eat Foods in Supermarkets Rises Due to Dining-Out Cost Burden ↑

According to recent industry reports, Deli (ready-to-eat meals) ranked second in sales among Emart's major product categories from January to November this year. It rose sharply from 11th place in November 2021 to 2nd place this year. The photo is not related to the specific content of the article.
[Photo by Asia Economy DB]

Due to soaring dining-out costs, ready-to-eat foods with good cost-effectiveness have sold well in large supermarkets.

According to the distribution industry recently, deli (ready-to-eat food) products ranked second in sales among major items at E-Mart through November this year. The sales ranking of deli products skyrocketed from 11th in 2021 to 8th last year and 2nd this year.

Deli products were not noticeable before COVID-19, staying outside the top 10 in sales rankings. However, demand increased during the COVID period, and since last year, with high inflation increasing the burden of dining-out costs, the number of customers seeking these products has surged sharply.

Above all, the popularity of deli products is largely due to large supermarkets continuously releasing ultra-low-priced deli products since the second half of last year, targeting customers who want to eat something other than home-cooked meals but find dining out or delivery burdensome.

First, sandwiches that can easily satisfy a meal at E-Mart sell 250,000 units per month, with sales increasing by 14% compared to the same period last year. Major items such as barbecue (33%), salads (38%), and fried foods (14%) also saw sales increases.

Not only E-Mart, but also Homeplus's specialized store 'Dining Street,' which sells convenience foods, has seen steady sales growth.

From January to October this year, sales focused on convenience foods in 2022 grew by more than 17% compared to the previous year. By completing the entire range of 'K home meals' from appetizers, main dishes, to desserts, sales increased by 15% this year, the second year of operating the specialized store.