Kim Bong-hwan, who runs a barbecue restaurant in Myeong-dong in central Seoul, is feeling the brunt of rising costs, with wholesale beef prices climbing from about 28,000 won (US$18) per kilogram to more than 40,000 won in recent weeks.
“Everything’s going up – beef, pork, eggs, vegetables and even disposable materials like plastic bags and containers,” he said. “Prices have risen 20 to 30 per cent in just a few weeks.”
Kim, who has operated the restaurant for more than 15 years, said raising…
South Korean restaurants struggle to survive as global oil prices eat into profits
