My Go-to Budget Meal: Ramyeon
During my early days in Seoul, instant noodles would always save the day. My Shin Ramyeon and Neoguri cups were life-saving during those late nights and fit within my budget. To top it all off, I felt like I was winning at life. Best part, they only cost 800 won equating to one meal.
Fast forward to today, the same ramen noodles I depended on during my student life cost 1,800 to 2,000 won. Instant noodles have become my luxury these days.
The reasons inexpensive products are getting pricer
Following the impeachment period of Korea, various companies delayed price increases due to political instability. Then, out of no where, companies like Dongsuh Foods and Hite Jinro drastically increased their prices, and it didn’t help that primary Korea news outlets reported on it.
A market analyst explained, Companies were holding back prices, then released them all at once. The new price of instant ramen was like a price tsunami. Everything from coffee mixes and beer instantly jumped 10-20%.
Experiencing Life on a Strict Budget
During my university days, I used to spend a maximum of 20,000 won a week on food because of cheap noodles and convenience store meals. Sadly, that same meal plan now costs anywhere between 25,000 to 30,000 wons and the variety has decreased.
The prices of convenience store food have skyrocketed: A cup of instant ramen: 2,000. Coffee mix pack: 3,000. Even a beer can is selling for 2,500 these days. While these expenditures may not seem like much to the average person, each single won is extremely important when you factor in everything.
Made an Attempt to Save Money
I now consider myself an expert on convenience store cost calculations, from seeking out 1+1 promotions to scouring E-mart24 discount corners. Even the instant rice attacks leftover logic; an egg worth 500 wons coupled with an egg and some kimchi makes for a great addition.
These days, convenience store hacks do not work like they used to. Adaptable budget eating in Seoul has proven far more difficult than anyone could imagine.
It Isn’t Just Me
Everyone’s cutting back on snacks. Even cheap beer feels like a luxury, my college friend told me last week. Another classmate mentioned how she used to rely on meals from convenience stores, but now has to eat home-cooked food exclusively.
While we are all trying to adapt, there is an overwhelming feeling that Seoul is no longer as convenient as it used to be for young people with limited budgets.
Can President Lee’s Plan Change Anything?
President Lee is introducing a supplementary budget that aims to assist small businesses along with other consumption stimulation measures. This plan seeks to provide relief for everyday essentials alongside aid to local businesses that are stuck between soaring wholesale prices and budget-conscious customers.
While these measures have good intentions, the reality is that practically every area undergoes lengthy waiting periods before changes are implemented. For now, those of us dealing with a tight financial situation are forced to experience Seoul's costly reality, one overpriced cup of instant noodles at a time.