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Reuters
Reuters
Business
Cynthia Kim and Jihoon Lee

At S.Korea's fried chicken diners, palm oil squeeze feeds inflation fears

Businessmen enjoy fried chicken and beer at a pub in Seoul, South Korea, April 25, 2022. REUTERS/Kim Hong-Ji

Mr Lee's diner, a cheap-and-cheerful fried chicken shop near central Seoul, has held firm against raising prices for a decade and a half.

But now, Mr Lee says, Indonesia's cooking oil export ban and its costly squeeze on prices have been the last straw: he expects to follow larger chains of South Korea's ubiquitous "chimaek" fried chicken-and-beer outlets that are raising prices, even if he risks losing customers.

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