Bread prices soar in Korea despite wheat drop due to monopoly and delivery costs

According to industry sources on the 2nd, the controversy over ‘breadflation’ (bread + inflation), which started with SukaWorld’s 990 won salt bread, continues. Even though bread can be bought for less than 1,000 won each, the prices of bread sold at mass-produced franchise bakeries, convenience stores, and local bakeries are deemed expensive, prompting a backlash from self-employed individuals. Salt bread is sold in the market for around 3,000 to 4,000 won each. SukaWorld apologized the previous day, saying it had ‘never blamed self-employed individuals’ regarding the controversy. On the 30th of last month, SukaWorld opened a pop-up store for an ETF bakery in Seongdong, Seoul, selling salt bread and bagels for 990 won each. At that time, SukaWorld stated that it had reduced distribution costs by sourcing raw materials directly and simplified the shape and packaging of the bread, adding that it prepared this initiative to respond to breadflation. Some in the industry point out ...