Pepero Used to Cost 200 Won... Why More People Are Hesitating to Celebrate This Year [Jumoney Talk]

Pepero Was 200 Won at Launch
Price and Size Adjustments Bring It to 2,000 Won Today
Consumers Now Debate Whether to Buy Pepero

Editor's NoteWe are now in an era where a single serving of pork belly costs 20,000 won and a bowl of Jajangmyeon is 7,500 won. The Consumer Price Index for 2024 stands at 114.18 (2020=100), and in 2025, the lingering effects of high inflation continue 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, alongside the ever-changing prices.

Pepero is displayed at a large supermarket in Yeonsu-gu, Incheon. Photo by Jo Yongjun

As Pepero Day on November 11 approaches, more people are debating whether to buy Pepero, which has seen its price rise to 2,000 won this year. In the past, it was common to exchange Pepero casually at school or work, but the mood has changed as prices have increased and the perception of Pepero Day as a corporate marketing tactic has grown.

The Era of 2,000-Won Basic Pepero

The price of Pepero has steadily increased since its launch. Lotte Confectionery (now Lotte Wellfood) first introduced the original chocolate Pepero in 1983, with a 50g package priced at 200 won. Later, during the 1997 International Monetary Fund (IMF) financial crisis, the package size was reduced to 40g while maintaining the price, but it was soon raised to 300 won. In 1999, without changing the package size, the price was increased again to 500 won.

Since then, both the price and package size have been adjusted several times. As a result, the current original chocolate Pepero sells at 54g for around 2,000 won, about 10 times the original price at launch.

Looking at just the past 10 years, the price has risen about 66.7%, from 1,200 won in 2015 to 2,000 won today. The pace of price increases has accelerated recently, with the price rising from 1,700 won to 1,800 won in June last year, and then to 2,000 won in February this year. The main reason is a significant decrease in cocoa harvests, Pepero’s primary ingredient, due to climate change. Other varieties such as Choco Cookie, White Cookie, and Almond Pepero are sold in 37g packages at the 2,000-won price point, which is less than the original.

Resistance to Corporate Marketing... Some Turn Away from Pepero Day

Pepero is displayed at a large supermarket in Yeonsu-gu, Incheon. Photo by Jo Yongjun

With prices continuing to climb, more consumers are reconsidering whether to celebrate Pepero Day. The burden of having to buy gifts for multiple people, combined with the increased cost of Pepero, has made the occasion more financially taxing.

Similar concerns are being shared on online communities. Last month, one user who recently changed jobs wrote, “At my previous workplace, there were few people, so I could give Pepero to everyone. But in my current department, there are 10 people, and if I include other departments, I’d need to buy more than 30 boxes, which is a burden. I feel awkward not participating, but the cost is no small matter if I do.”

Pepero Day originally began as a way for friends and acquaintances to exchange small tokens of affection. It is said to have started in the early 1990s when high school girls in Busan and Gyeongnam shared Pepero with the hope of “becoming tall and slim.” At the time, the low price made it an affordable and thoughtful gift. However, as prices have risen, many point out that it is no longer as easy to participate as it once was.

Some people now view Pepero Day as a corporate marketing ploy. According to a survey conducted by Lotte Members’ own research platform, Lime, of 1,000 adults nationwide, 45.1% said they planned to celebrate Pepero Day this year, while 54.9% said they would not. The reasons for not celebrating included: “I don’t usually celebrate anniversaries” (39%), “I feel uncomfortable with corporate marketing tactics” (28.2%), and “I don’t see the point in celebrating” (25.3%).

Meanwhile, convenience store chains are introducing special gift sets in collaboration with various characters to attract consumers. GS25 has prepared more than 150 types of Pepero gift sets featuring characters such as Butter Bear, Black Chun, and Puggler. CU has launched Pepero featuring the Pok?mon character Ditto, while 7-Eleven is offering special products in collaboration with Sanrio Characters.