THE PRICE HIKE

This week for my Bloombeg column I review Jungsik, which instantly became New York’s most expensive Korean restaurant when it opened last September. Jungsik charges $80 for three courses, $115 for five-courses (down from the opening price of $125). Some of the food is very good. Some of it isn’t, which is a problem when the cost of a three-hour meal can easily exceed $450 for two after wine, tax and tip.

I argue that the half-year old restaurant should start offering its menu a la carte, to boost the bar crowd (because there is none) and to give guests more economic and culinary flexibility as the kitchen works out its kinks. This will likely happen, as I report in my column. Here’s the full statement from a Jungsik spokesperson:

• “There are plans to offer ala carte dining in the future, especially in the bar area. We also look to open for lunch business to make the restaurant more accessible to New Yorkers.”

In the meantime, THERE IS a way to try Jungsik for a few dollars less: Eat at South Korean flagship during your next trip to the peninsular North Asian country. The Seoul location charges 100,000 won for five-courses, which works out to $88 USD at the current exchange rate, or 34% less than what New York charges. Seoul also offers a five-course chef’s menu with “no choices,” for 120,000 won, or $106 USD, $9 more than in New York. (The South Korean prices, according to our research, are not inclusive of 10% VAT).

Lunch at Jungsik in Seoul currently costs 40,000-70,000 won ($35-$62 USD). We at The Price Hike are curious to see what the New York location will charge when lunch debuts!