Starbucks Hikes Prices

Starbucks customers in Korea will have to dig a little deeper to pay for a cup of coffee starting this week.

Starbucks Korea says it is raising prices on more than half of its coffee items by about W200 starting Wednesday (US$1=W1,019).

The hike, the first in more than two years, is necessary to offset spikes in rent and labor costs, the company claims. Other major coffee franchises here say they have no immediate plans to raise prices.

Arirang News / Jul. 14, 2014 11:13 KST