Rising Costs Hit South Korea's Chocolate and Coffee Prices

Chocolate and coffee prices in South Korea have surged due to rising global commodity costs. A popular chocolate snack, which had been priced at 1,000 won for the past decade, increased by 20% to 1,200 won this month.

Another snack saw its price rise from 1,700 won to 1,900 won.

These hikes follow a 127% surge in cocoa prices over the past year, with further increases expected. Coffee prices have also risen, with Starbucks Korea raising some coffee bean prices and Dongsuh Foods increasing instant coffee costs.

Bottled water prices are up, with Nongshim raising its spring water price by 9.9%. Palm oil costs, essential for snacks and ramyeon, have risen over 20%. With continuous price hikes, concerns are growing about weakening consumer sentiment as household expenses climb.