KFC Raises Prices Again Following Last Year's Increase in June

The chicken franchise KFC is facing growing consumer dissatisfaction as it raises menu prices once more, following last year's increase. The fact that this price hike comes despite record high performance has led to complaints of "consumers being treated like fools."

On the 8th of this month, KFC announced a price increase of approximately 100 to 300 won for some menu items, including chicken and burgers.

This is not the first time; they raised prices last June, meaning that less than a year later, they have chosen to increase prices again.

The company stated that the price hike was an "inevitable decision due to rising raw material costs and other expenses," but netizens have reacted coldly, commenting such things as, "Are they raising prices because business is good?" and "Now they're raising prices without any concern."

Operating Profit Increased by 469% Compared to Last Year

Consumer reactions gain more weight when considering KFC's performance. Last year, KFC Korea recorded an operating profit of 16.4 billion won, a staggering increase of 469.1% compared to the previous year. Sales also rose by 17.7%, reaching 292.3 billion won.

The government has been implementing various support measures, such as applying import tariffs on key food ingredients and providing funding assistance and VAT exemptions to reduce the management burden on the restaurant industry.

Despite these measures, consumers have pointed out the unfairness of KFC continuously raising prices while benefiting from government support, stating, "They get government benefits and raise prices again."

In response, the Ministry of Agriculture, Food and Rural Affairs views it as unfair for companies to receive support while increasing prices and plans to analyze financial statements to determine necessary actions.