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[SITUATION] · [ACTIVE] · [BUSINESS]
2 clusters · 5 sources · 16 days · First seen · Last updated
South Korean airport food price increases
Overview
Food and beverage prices at airports managed by the Korea Airports Corporation have risen significantly, with some items increasing by as much as 45.5% between 2021 and 2026. Notable price hikes were recorded for bibimbap at Cheongju International Airport, tonkatsu at Cheongju, ramyeon at Ulsan, and udon at Gimpo.
Data released by Representative Kim Mi-ae indicates that high rent is a primary driver of these increases. Between 2021 and 2025, average rent accounted for 31.9% of total sales for airport food and beverage tenants. However, specific outlets face much higher burdens; for example, a Dunkin' Donuts at Gimpo International Airport reported a rent-to-sales ratio of 65.6%, while other businesses at Jeju International Airport saw rent consume approximately 58% to 59% of revenue.
The financial pressure stems from a multi-layered contracting structure where the corporation contracts with operating companies through competitive bidding, who then sub-lease to individual tenants. Experts suggest these high commercial rents inevitably result in costs being passed on to travelers.
Entities
Cheongju International Airport · Kim Mi-ae · Jeju International Airport · Gimpo International Airport · Korea Airports Corp.
Timeline
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1 day ago
[BUSINESS] 2 sourcesSouth Korean airport food tenants face high rent burdensTenants at 14 South Korean airports face high rent burdens averaging 31.9% of sales, driving up food prices for travelers, including a 45.5% increase in bibimbap costs at Cheongju Airport.
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16 days ago
[BUSINESS] 3 sourcesSouth Korean airport food prices rise up to 45.5% amid high rentFood and beverage prices at South Korean airports operated by Korea Airports Corp. have risen by up to 45.5% in five years, driven largely by high rent costs for tenants.
Sources
biz.heraldcorp.com · imaeil.com · koreaherald.com · kyeonggi.com · namdonews.com