Starbucks Prices Closer to the Stars

BUSAN, South Korea - You may not have noticed, but Starbucks Korea added 300 won onto 32 of its drinks on May 7. In a statement, Starbucks reps cited rising rent and milk prices, as well as inflation generally, as causes for the inevitable price hike, which perhaps not coincidentally included the company’s five best-selling drinks (the americano, cafe latte, caramel macchiato, cafe mocha and green tea frappuccino). To its credit, Starbucks also marked down a dozen or so beverages by 100 or 200 won, but almost all of them are totally unpopular. (Lavender Earl Grey, anyone?)

The coffee giant’s decision followed a similar move by Caffe Bene, the ROK’s most ubiquitous coffee chain, though this price jump has yet only affected its most popular location in Gangnam, Seoul; however, with Starbucks paving the way, customers worry that Bene and others will follow suit. Holly’s Coffee, Angel-in-Us and The Coffee Bean have specifically made no comment as of yet, and the Fair Trade Commission will reveal by July whether or not collusion is suspected. (To be honest it’s likely not, and moreover note that the last time Starbucks Korea raised its prices was over two years ago, on New Year’s Day, 2010, when, again, their most popular drinks’ prices were inflated by – you guessed it – 300 won.)

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