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Bakeries and noodle restaurants in South Korea are struggling with the spike in the price of flour and other ingredients since last year.
Unlike large conglomerates that purchase flour in bulk before the price goes up, minimizing price fluctuation impact, many small businesses do not buy and store flour in advance and are consequently exposed to the risk.
Bae Deok-jung, a 44-year-old owner of a Chinese restaurant in Seoul, noted that they do not buy ingredients and store them in advance because of a lack of space.
The price of kalguksu or hand-rolled noodles in Seoul jumped 4.6 percent from 7,615 won in December to 7,962 won in February. From February 2021, the price has soared by 8..9 percent, according to the Korea Consumer Agency.
