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Burger chain Lotteria to raise prices on higher costs

Published: 28 Mar. 2025, 17:12

PARK EUN-JEE
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This undated file photo shows a Lotteria outlet in Ansan, 30 kilometers south of Seoul. [YONHAP]

Lotteria, a burger chain operated by Lotte Group's affiliate Lotte GRS, will raise the prices of its main products next week to pass higher costs onto customers, Lotte GRS said Friday.

The franchise will raise the prices of 65 items, including 23 burgers, beverages and desserts, by an average of 3.3 percent from Thursday, the operating firm said in a press release.

Of them, the flagship Ria Bulgogi and Ria Shrimp burgers will be sold for 5,000 won (US$3.41) per unit, up from the current 4,800 won, it said.

"The price hikes were inevitable to reflect a variety of rising costs, the won's weakness and high raw materials prices due to climate change," the company said.

The move came just eight months after it announced 3.3 percent price hikes for its main products in August last year.

Food, coffee and beverage companies have recently increased their product prices, citing higher costs and the won's weakness against the greenback, which pushes up spending on raw materials mostly imported from overseas.

Starting March 20, McDonald's Korea raised the prices of 20 menu items by an average of 2.3 percent, raising the price of the signature Big Mac meal by 200 won to 7,400 won.

Many others, including Starbucks Korea, instant noodle maker Nongshim and dumplings maker CJ CheilJedang, have also raised their product prices.