Coffeenomics : How much time do you spend on a cup of coffee?

By Hyun Joon Lee

 

One of the world most expensive Coffee in Copenhagen?

Copenhagen is usually regarded as the city one of the most expensive prices in the world by Korean. According to a research ‘The cost of your Starbucks across the world’ conducted by Voucherbox, Copenhagen was ranked second among the cities all around the world. To buy a cup of coffee at Starbucks in Copenhagen, you need to pay approximately 5,811 Korean Won(₩) whereas only need to pay 4,300₩ in South Korea.

Photo by Hyun Joon Lee

 

To buy a cup of Starbucks Cappuccino, how many hours do you need to work?

 

However, it is hard to say that Bern and Copenhagen have the most expensive coffee price in the world considering the each countries’ minimum wage.

The Coffee cost(₩) Minimum wage(₩) Coffee cost / Minimum wage(hour)
1. Bern 5,984 23,400 0.26
2. Copenhagen 5,811 19,360* 0.30
3. Oslo 4,888 23,100* 0.21
4. Helsinki 4,797 -*
5. Brussels 4,732 12,844 0.37
6. Stockholm 4,537 14,916 0.30
7. Paris 4,407 13,014 0.34
8. Seoul 4,300 6,470 0.66

*not legislated in the law

The chart above shows that you need to work about 40 minutes if you work for the minimum wage in South Korea. According to Coffee cost/Minimum wage index, coffee prices in Seoul are more than twice those in Copenhagen.

Recently, there was a big debate between labor and management in increasing the minimum wage in South Korea. Apparently, it is hard to say S.Korea’s minimum wage is high compared to other OECD countries considering the cost of Starbucks coffee.

This story is written for an audience in South Korea and could be published on http://www.hani.co.kr