South Korean cuisine was one of the cuisine types within Full Service Restaurant (FSR) channels, along with Japanese and Chinese cuisines, according to GlobalData’s menu intelligence database. In its menu analysis of FSR in South Korea report, GlobalData analyses 8,584 menu items across FSR outlets and provides an overview of various foodservice channels in South Korea. According to GlobalData, FSR makes up 6% of all restaurant types in South Korea. Buy the report here.
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Fish & Seafood was found to be the most-used ingredient in FSR establishments, featuring in 28% of menu items, followed by rice and vegetables. Chicken and cheese were also significant ingredients. An analysis of menu categories reveals that fish & seafood dishes, meat dishes, meal deals and combinations, salads & sides and soft drinks were most popular within the FSR format.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in South Korea FSR channel have dropped by 0.02%. Considering all channels (including FSR) the average price change was 0.18%. As on-premises dining gains momentum following the COVID-19 pandemic, the FSR segment in South Korea is expected to experience overall growth. Moreover, the introduction of new menu items that emphasize health and wellness generates interest in those seeking nutritious menu options and greater variety.
Different restaurant types exhibited mixed price movements within South Korea foodservice market between 2023 and H1 2024. Of all the restaurant types, QSR exhibited highest price hike, while hotel & motel experienced a maximum price decrease.
An in-depth analysis of FSR price trends by location reveals consumption trends of each region. The graph below represents the change in FSR menu prices between 2023 and H1 2024 across the top five locations. As seen below, FSR menu items in Korea became more affordable as compared to Pyeongtaek-si and Mapo-gu.
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In the Korean market, FSR operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavors of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into South Korea FSR menu, buy the full report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Online Menu Intelligence is a database of cost and profit foodservice operators on menus within Foodservice Intelligence Center. The tool’s several search options, such as cuisine, category, menu item, ingredient, and restaurant, help users to conduct focused searches in terms of price analysis (average price and change in prices), menu item claims, popular categories, cuisine/ingredient penetration levels, etc.
