Chicken franchise BBQ to raise prices for first time in 2 yrs

[Courtesy of BBQ]

South Korean chicken franchise BBQ said on Tuesday that it will raise the prices of its menus from Wednesday, marking the first hike since May 2022.

According to the franchise operator Genesis BBQ Group, the prices of 23 out of 110 BBQ products will see recommended consumer prices adjusted upwards.

Key products like the Golden Olive Chicken Fried will see prices rise from 20,000 won ($15) to 23,000 won, while the Jamaican Whole Leg Grill will increase from 21,500 won to 24,000 won.

Half of the entire 110 products, or 56 items in total, will maintain their current prices. This includes chicken products like the Golden Olive Chicken Breast and side menu items like pizza and burgers.

Additionally, 31 products will see quantity increases to offset price adjustments. Combo sets like the Spicy Garlic Fried Chicken will include an extra chicken leg without a price change, maximizing benefits for consumers, the company said.

“The unavoidable price hike is due to sustained increases in raw material prices, minimum wage, rent, delivery app fees, and delivery rider costs,” said a company official.

While BBQ, one of the top three players in the Korean chicken industry, is set to increase prices, competitors BHC and Kyochon Chicken have said they will not be raising prices for the time being.

BHC raised prices on 85 menu items by up to 3,000 won at the end of last year and Kyochon Chicken increased prices in April 2023.