Kyochon F&B, from the 3rd of next month, an increase of 500 won to 3,000 won
Original 19,000 won, Honey Combo 23,000 won
Concerns about domino hikes in the chicken industry… BBQ·bhc “Not yet”
‘Chicken prices are going up again?’ The price of chicken, which has the highest consumer satisfaction among restaurant prices, is rising. It seems that the formula of ‘chicken = ordinary people’ is broken in front of the high-end market. Kyochon F&B announced on the 24th that starting from the 3rd of next month, the recommended consumer price for each item would be raised from a minimum of 500 won to a maximum of 3,000 won. With this increase, the representative menu, ‘Kyochon Original’, went up by 3,000 won from 16,000 won to 19,000 won, reaching below 20,000 won. Honey Combo goes up from 20,000 won to 23,000 won. Looking at the increase rate alone, Soy Sauce Original is 19% and Honey Combo is 15%. Considering the delivery fee, it seems that consumers will have to pay close to 30,000 won when ordering one chicken. However, the price of new menus such as ‘Black Secret’ will be maintained. It has been about a year and five months since November 2021 that Kyochon has raised prices. Kyochon F&B said, “The decision was made due to the deteriorating performance due to the rise in operating costs such as rent and labor costs, as well as the rise in the cost of raw materials.” Kyochon’s head office emphasized the fact that last year’s operating profit was only 8.9 billion won, a decrease of 78% compared to the previous year, while freezing the delivery price of raw material franchisees for 10 years since 2014. As Kyochon takes the lead in raising prices, it is highly likely that other major chicken franchises such as BBQ and bhc will also raise prices at Domino’s. BBQ raised the price of all products by 2,000 won in May of last year, and BHC also raised the price of its main menu by 1,000 to 2,000 won in 2021. An official from BBQ said, “It is true that difficulties are increasing due to cost increases, but we are not considering a price increase internally.” An official from BHC also said, “There has been no discussion about a price increase.” By Yu Seon-hee, staff reporter duck@hani.co.kr
