The price of milk, yogurt and other diary products sold by Korea's largest milk seller will increase by up to 28 percent at convenience stores starting in October, sparking concerns about potential inflationary effects within the dairy market.
Korean dairy companies are poised to raise milk prices, but the increases are limited in response to government concerns over possible "milkflation."
Employees of Seoul Milk went on a partial strike on Wednesday over a dispute related to wages. Stores selling Seoul Milk products were notified there may be some disruptions in supply due to the strike.
Prices of Seoul Milk products will increase 6 percent on average starting Nov. 17 due to the hiked prices of raw milk, according to Seoul Dairy Cooperative Thursday.
Seoul Dairy Cooperative apologized Wednesday over a recent video that an internet mob determined was insulting to women.
A customer looks at cartons of milk on the shelves of a discount store in Seoul Thursday. The Seoul Dairy Cooperative said Thursday that it will raise milk prices by an average 5.4 percent from the beginning of next month.
Despite a slump in milk consumption, the country’s largest milk seller, Seoul Dairy Cooperative and Maeil, posted improved earnings last year by expanding its range of milk products.
Korea JoongAng Daily Sitemap
