The Winter Favorite Snack 'Bungeoppang' Disappears... 'Where Are 4 for 1000 Won?'

Structure Where Labor Costs Cannot Be Covered Due to Rising Material Prices

Winter's representative snack, Bungeoppang, has become so unprofitable due to rising ingredient costs that street vendors have become increasingly rare.

According to Statistics Korea on the 20th, the number of employed people in the "communication and visiting/street vending" sector, which includes Bungeoppang, roasted sweet potatoes, and hotteok street vendors, was 339,000 in the first half of this year. This is 8,000 fewer than the 347,000 recorded in the second half of last year. Compared to the second half of 2019 (371,000) and the first half of 2020 (363,000), the number has decreased by nearly 30,000.

Citizens waiting to buy Bungeoppang.

The prices of main ingredients used in Bungeoppang, such as red beans and flour, have surged compared to previous years. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), the wholesale price of red beans (imported), a key ingredient in Bungeoppang, was 265,800 KRW per 40 kg as of this date. This is a 9.6% increase from the average price of 242,528 KRW in previous years. Prices of flour and cooking oil also rose by 5.1% and 5.9%, respectively, compared to the previous month. Other ingredient costs, such as sugar, have also increased.

Due to the rise in ingredient costs leaving little margin, the price of Bungeoppang has also increased. In the past, 3 to 4 Bungeoppang could be purchased for 1,000 KRW. Recently, prices have nearly doubled to 2,000 KRW for 3 pieces and 1,000 KRW for 2 pieces. In some major areas of Seoul, the price for one Bungeoppang has risen to between 1,000 and 1,500 KRW.

Additionally, the price of LPG gas used for baking Bungeoppang is expected to rise next month, which may have further impact.

Appearance of Bungeoppang. Photo by Yonhap News

Meanwhile, as street vendors become harder to find, consumers seeking "Bungse-gwon" (a combination of Bungeoppang and Se-gwon) have increased. The distribution and food service industries are focusing on street snack products that cater to these consumer needs. Consumers can use products that can be heated in air fryers or microwaves. Examples include CJ CheilJedang's Bibigo Bungeoppang in three varieties and Ottogi's "Tail-Filled Bungeoppang" in two varieties (red bean and custard cream).