The operator of the economic YouTube channel 'Shuka World', Shuka (Jeon Seok-jae), has decided to suspend operations of the pop-up store 'ETF Bakery' as of the 7th. It appears the controversy arose over the lower bread prices compared to the market.
Shuka World stated through social media (SNS) on the 5th that it intends to take time for reorganization after concluding operations on the 7th. It added, "I deeply apologize for the inconvenience and disappointment caused by shortcomings during the operation", and said it would strive to return in a more mature form by reflecting on the criticisms and advice received.
Shuka World opened the 'ETF Bakery' pop-up store in Seongsu-dong, Seoul, on the 30th of last month. It gained significant attention by selling salt bread and bagels, which are priced between 3,000 and 4,000 won in the market, for 990 won.
Although Shuka World claimed it was addressing breadflation (bread + inflation), there was a strong backlash mainly from self-employed individuals. Reactions included, "That price is only possible for those who can engage in low-price high-volume sales," and "It makes it seem like existing self-employed individuals are taking excessive profits."
As the controversy grew, Shuka World apologized through a live broadcast on the 31st of last month. Shuka said, "I thought people would like cheap bread, but it turned out not to be the case. I apologize," and added, "I was trying to discuss the structural issues of bread pricing but it was interpreted in another direction, which is unfortunate. If there are people who feel hurt, there seems to have been misunderstandings."