Article from YTN:
These days, coffee is even more expensive than food!
It is just one of the small luxuries of everyday life.
Yet, in Korea, a cup of coffee is two times as much as one in New York City. Shouldn’t that make you think twice?
The Korea Center for Economic Studies, KOTRA (Korea Trade-Investment Promotion Agency), and Dong-a Ilbo compared prices of a Starbucks americano according to country.
As of August 18th, [the price of an americano in] Korea was $4.85 USD, the 6th priciest in the 20-country OECD.
Starbucks has its origins in the United States. In typically expensive New York City, how much would it be?
It is $2.45 USD, around half the price of the same in Korea.
Countries with higher prices than Korea included Poland, Greece, and other Eastern European countries suffering from economic crises.
Among advanced nations such as Japan, Germany, and England had lower prices than Korea despite being nations where goods are typically expensive.
The largest issue here is that the price of a Starbucks coffee is the average price compared to other domestic coffee shops.
The top half of the graphic shows that while Starbucks in Korea (labeled in brown) is among the most expensive worldwide, the bottom half shows that domestically Starbucks is not the most expensive coffee brand.
There could be a good reason for price hikes at Starbucks.
One analysis states that the majority of domestic coffee shops are located in high-rent commercial districts which translates to higher prices.
However, we should also consider the possibility that royalties are excessive and [the coffee shops] could be taking advantage of the way Korean consumers think about luxury goods.
Comments from Naver:
kung****:
Korea, land of pushovers.
dbfk****:
Wow are we really such pushovers.
luck****:
Has everyone gone crazy? kekeke
rmfl****:
I’d love it if prices were lowered a little.
yunj****:
It’s an issue. Cookies are like this, and coffee too. Even though they’re expensive, we keep buying and consuming them. We are also the problem . When it’s expensive, if its consumption goes down, only if a lot of people are not buying coffee and cookies can the prices go down. Even when prices go up people keep buying them so of course the price can’t go down.
poca****:
Young people so proudly drink their Starbucks with their significant others, and their fathers struggle drinking coffee from a vending machine.
mete****:
To be honest, what is the reason for buying such expensive coffee? All the coffees taste the same -it’s just pretentious showing off. kekeke Let’s live within our means. keke Independent coffee shops all have take-out and there are so many that sell an americano for 1,500 won. Getting coffee there is fine. For what reason are you spending so much money keke
naga****:
I have no intention to talk down coffee culture. But don’t blame society for not having any money if you’re drinking a 5,000 won coffee every day. You are just one of the people who is sustaining such an unreasonable social structure.
jm3k****:
Starbucks isn’t the only one that’s expensive – Coffee Bean, Paul Basset, Holly’s, Cafe Bene, all of them have almost the same prices. It’s unusual why only Starbucks is mentioned for raising prices. All coffee in Korea should be around 2,000 won.
esco****:
It’s given that in the US [the price is] like that, so let’s explain why our coffee is more expensive than Japan. A grande americano at Narita airport is only 3,000 won. What is so different? It’s really shocking, are we just being seen as easy prey?
whym****:
Even in London where it’s famous for being so expensive it kills you, it’s still cheaper than Korea.
sant****:
The answer lies in knowing why Italy has no Starbucks.
park****:
Recently I looked at my card purchases and was shocked. Coffee is really a back-breaker.
jihu****:
If we all stop buying it then the prices will lower kekeke but like that’s gonna happen.
edu1****:
Naive Koreans. Just coffee? Cars, cosmetics, coffee, cell phones. All these companies see Korea as a market to exploit!! Korean companies are worse. Their exports are cheaper with better quality!! Korean companies do this so no wonder foreign companies also think we’re easy prey. Korea, gullible to high-end marketing.
sims****:
Samsung electronics employee: The phone is expensive because there is DMB VAT [Digital Media Broadcasting Value Added Tax], and the domestic market is smaller than in other countries. Mass-production blah blah blah so it’s 200,000 won more expensive… shut up just buy it … Starbucks is just the same. Republic of Korea, Republic of Pushovers.
runj****:
It’s because of those kimchi bitches who drink it only if it’s expensive, ke.
tent****:
Korea is a nation of pushovers and suckers. So much money spent really frivolously So fucking annoyed.
dlaq****:
Even so they are doing well.
koco****:
Why is Starbucks always talked about like it is the norm. Domestic brands like Angel-In-Us and Cafe Bene are more expensive, and don’t taste good either.
