Lotteria operator Lotte GRS said on the 21st that it will raise prices on some menu items, including 22 single-item burgers, by an average of 2.9% starting on the 28th. The move comes as the burden of materials and supplies prices and logistics costs has grown.
By product, the increase ranges from a minimum of 100 won to a maximum of 300 won. The flagship Lia bulgogi and Lia shrimp burgers will each go up 100 won for the single item and be sold for 5,100 won.
Lotte GRS said the measure was unavoidable due to the growing burden of logistics costs and various incidental expenses. With domestic and overseas conditions becoming unstable because of Middle East–origin geopolitical risks, the exchange rate has risen and the global materials and supplies supply-demand imbalance has prolonged, leaving no choice but to reflect the situation.
A Lotte GRS official said, "We decided to adjust prices after continued discussions with the franchisee association to protect franchisees' profits," and added, "We will do our best to ease the burden on consumers through various discount promotions and to maintain stable quality and service."
Meanwhile, burger price hikes are continuing, led by major franchise brands. Earlier, on Feb. in Korea, McDonald's raised prices on 35 menu items, including the Big Mac, by 100 to 400 won, and in the same month Burger King also adjusted up prices on some items, including the Whopper, by 100 to 200 won. In Mar., Mom's Touch raised prices on 43 items, including the Thigh Burger, by 2.8%.