"Now I Look for Discounts and Coupons Before Buying a Burger"... No Longer an Easy Meal [Jumoney Talk]

Hamburger Prices Outpace Pizza, Fried Chicken, and Jajangmyeon
A Big Mac Was 4,300 Won Ten Years Ago, Now 5,500 Won
Price Hikes at McDonald's, Burger King, and Lotteria
Rising Hamburger Costs Increase Consumer Burden

Editor's NoteWe are living in a time when a single serving of pork belly costs 20,000 won and a bowl of Jajangmyeon is 7,500 won. The 2024 Consumer Price Index stands at 114.18 (2020=100), and in 2025, the lingering effects of high inflation have continued to increase the burden on consumers' grocery baskets. Through the "Jumoney Talk" (Week+Money+Talk) series, we aim to share stories about consumption that are closely tied to our wallets, as prices continue to fluctuate rapidly.

The price of hamburgers, once considered a quick and affordable "everyday meal," has been rising sharply in recent times. This is because franchise companies are raising prices one after another, due to factors such as the increase in exchange rates and higher raw material costs. On top of that, some brands are adopting premiumization strategies, introducing high-priced menu items in the 20,000 to 30,000 won range, further heightening the perceived cost burden for consumers.

As hamburger prices rise rapidly, the burden on consumers is also increasing. Photo by Pixabay

According to the National Statistical Office's KOSIS portal on the 30th, last year’s hamburger Consumer Price Index was 130.17. With 2020 as the base year (100), this means hamburger prices have risen by 30.17% over four years. Compared to other dining-out items during the same period, such as pizza (19.04%), fried chicken (24.11%), and kalguksu (24.66%), the increase was particularly steep. Among the 39 major dining-out items tracked by the National Statistical Office, only gimbap (32.63%) saw a higher rate of increase than hamburgers.

The surge in hamburger prices is primarily due to successive price hikes by franchise chains. McDonald's raised the prices of 20 menu items, including burgers, drinks, and sides, by 100 to 300 won starting on the 20th. The overall average increase was 2.3%. The flagship Big Mac set rose by 200 won, from 7,200 won to 7,400 won. This was the first price adjustment in ten months since last May, when McDonald's also raised the prices of 16 menu items by 100 to 400 won. A McDonald's representative stated, "Due to continued increases in exchange rates and raw material costs, we were inevitably forced to adjust our prices."

The situation is similar for other franchises. Burger King raised the prices of some products by 100 won each in January this year. The price of Burger King's signature Whopper increased from 7,100 won to 7,200 won, and the Garlic Bulgogi Whopper went from 7,400 won to 7,500 won. Mom's Touch (last October) and KFC (last June) also raised their prices, while Lotteria plans to increase the prices of 65 items by an average of 3.3% starting April 3.

Compared to ten years ago, the upward trend in hamburger prices is even more pronounced. The price of a Big Mac, which is used as a global price comparison indicator, was 4,300 won in 2015 but has risen to 5,500 won this year-an increase of about 28%. Lotteria's flagship Bulgogi Burger also jumped from 3,400 won to 4,800 won during the same period, an increase of over 41%.

As hamburger prices rise rapidly, the burden on consumers is also increasing. The perception that hamburgers, once known as a "cost-effective dining-out option," are no longer cheap is spreading. Lim, a 30-year-old office worker, said, "Hamburgers used to be an affordable and quick meal, so I could eat them without much concern, but as prices keep going up, I find myself eating them less often than before. Now, I only choose discounted menu items or make sure to use coupons."

In particular, the entry of global premium burger brands such as Five Guys into the domestic market is also pushing up the perceived price of hamburgers. At budget-friendly franchises, most set menus can still be purchased for under 10,000 won, but the price range is noticeably higher at premium brands. For example, a single hamburger at Five Guys costs 13,400 won, and a small order of fries is 6,900 won. Since there are no set menus, even the cheapest combination of a burger, fries, and a soft drink exceeds 20,000 won. Additionally, the signature Hell's Kitchen Burger at Gordon Ramsay Burger is priced at 32,000 won, while the most expensive item, the 1966 Burger, costs a staggering 140,000 won.

Experts predict that the trend of rising hamburger prices will continue for the time being. Lee Eunhee, a professor of Consumer Studies at Inha University, said, "The domestic hamburger market is effectively an oligopoly. Because a small number of companies dominate the market, when one raises prices, others tend to quietly follow." She added, "Since price increases do not lead to a significant loss of customers, companies believe the impact on sales is minimal and thus proceed with price hikes."