BBQ Delays Chicken Price Increase... "Golden Olive 20,000 Won Until the 30th"

Consumer Price Adjustment Deferred from 23rd to 31st
BBQ "Hope to Contribute to Price Stability"

BBQ has decided to postpone the timing of its chicken price increase from the originally planned 23rd to the 31st of this month.

Korea's leading chicken franchise BBQ announced that starting from the 23rd, the price of its signature product 'Hwanggeum Olive Chicken' will be increased from 20,000 won to 23,000 won, and 'Jamaica Whole Leg Roast' will be raised from 21,500 won to 24,000 won. The photo shows a promotional board set up in front of a BBQ store in Seoul on the 22nd. Photo by Kang Jin-hyung aymsdream@

Genesis BBQ, the operator of the chicken franchise BBQ, announced, "The implementation date of the recommended retail price adjustment policy, which was scheduled for the 23rd, has been postponed by 8 days to the 31st."

Previously, BBQ had announced that it would raise the recommended retail prices of 23 products by an average of 6.3% starting from the 23rd.

A representative from Genesis BBQ explained, "We hope this will contribute even a little to stabilizing prices."

The postponement of BBQ's price increase is interpreted as a response to significant pressure from the government to stabilize prices and backlash from consumers. Earlier, as Goobne and Puradak raised their chicken prices, the government and consumers were closely watching the top three chicken franchises: BBQ, Kyochon Chicken, and bhc.

With this price increase, the signature menu, Golden Olive Fried Chicken, will rise from 20,000 won to 23,000 won. This is the highest price among the fried chicken offerings of the top three chicken franchises. Currently, Kyochon Chicken Original is priced at 19,000 won, and bhc Fried Chicken is set at 20,000 won. Another popular BBQ menu item, Jamaica Whole Leg Chicken, will change from 21,500 won to 24,000 won.

However, prices for 56 products, which account for half of the total 110 products, will remain unchanged. This includes 30 chicken items such as Golden Olive Chicken Tenderloin, Kkanpung Chicken, and Jamaica Sausage and Rice Cake Chicken, as well as all 26 side menu items like pizza and burgers. A BBQ representative emphasized, "We did our best to minimize the number of products subject to price adjustments amid the high inflation situation."

For 31 products, a price reduction effect was achieved through increased quantity. Among these, six items including 'Kkanpung Chicken' and 'Extreme King Ribs Chicken' added one extra chicken leg without changing the price. The remaining 25 products saw price increases but also increased portions. For example, the Golden Olive Chicken Combo price rose by 3,000 won, but the number of chicken legs increased to five, one more than before.

This is BBQ's first price increase in two years since May 2021. At that time, BBQ raised the price of Golden Olive Chicken from 18,000 won to 20,000 won.

This price adjustment is due to rising costs of raw materials such as chicken meat and olive oil, as well as sharp increases in minimum wage and rental fees.

Meanwhile, Kyochon Chicken and bhc have announced that they have no plans to raise prices for the time being.