Starbucks Korea will raise the prices of most beverages starting Friday due to soaring coffee bean costs. Grande-size and venti-size drinks will see increases of 300 won ($0.22) and 600 won, respectively, while tall-size beverages will remain unchanged.
The company attributed the price hike to persistent rises in coffee costs driven by poor harvests, climate change, geopolitical issues, and supply chain disruptions. Whole beans and VIA instant coffee will also see their first price increases in 18 and 13 years, respectively.
Conversely, short-sized beverages will become 300 won cheaper, with a short Americano now costing 3,700 won. This adjustment follows a price increase of up to 300 won across the menu in January 2022. Starbucks, which began its South Korean operations in 1999, now operates 1,930 outlets nationwide.