Starbucks in Korea has raised the price of American coffee after 8 years. Starbucks in Korea has changed its name to SCK

In 2017, McDonald's, which grew up with us, suddenly announced in October that it would change its name to "McDonald's" in the Chinese mainland area. As soon as the news came out, some friends of the post-80s and post-90s all shouted that they had lost their childhood, and they even worried that the taste would change with it.

Now, one of our neighbors is going through a very similar thing. According to a report in Korea's Central Daily on January 3, 2022, Starbucks South Korea was acquired by Emart, South Korea's largest retailer, and Starbucks in South Korea will change its name to SCK. In July 2021, South Korea's easy Buy Emart acquired 17.5 per cent of Starbucks' other half stake in July 2021 and became Starbucks' largest shareholder in South Korea, while the remaining 32.5 per cent of Starbucks was taken over by GIC, the sovereign investment fund of the Singapore government.

Once Starbucks International withdraws from its joint venture in South Korea and no longer holds a stake, Starbucks Cafe, which used to belong to Starbucks International, will not be able to use Starbucks. Now, Starbucks headquarters in Seattle asked Starbucks in South Korea to change its name. In response, Starbucks Korea has changed its name to "SCK".

Even if the name of the company has been changed to "SCK", there has been no change in the way it operates. It also needs to pay about 5% of the franchise fee for Starbucks International, and the menu and materials of the cafe will remain the same. Starbucks fans can still enjoy Starbucks drinks and pastries and other products in SCK's cafes.

However, less than seven days after 2022, different food brands are delivering surprises, and Starbucks' surprises are even more serious. Yesterday, Starbucks South Korea do not know whether the smell of China's domestic milk tea brand price increase, yesterday afternoon also spread the price increase news.

The price of world coffee futures has doubled since 2021, the highest in nearly a decade, and the cost has risen again and again. Starbucks in South Korea, which has not increased its price for eight years, has been reported and denied many times over the years. However, in the end, it could not bear the burden. Starbucks South Korea said it was studying a plan to raise the price of American coffee. The news may lead more large coffee chains to join the price hike.

The joys and sorrows of the beaters on coffee and milk tea are the same. Nearly two years have passed, the freedom of coffee is gone, the freedom of milk tea is gone, and the prices of our own milk tea shop and neighbor's coffee shop have gone up as well. So the price increase in our own cafe doesn't seem far away, and the extremely malnourished wallet in the trouser pocket that can float away in the wind is already shivering.

Photo Source: Internet