Korea's coffee shop Twosome Place to raise prices

Twosome Place will raise prices at its stores nationwide from today, following industry leader Starbucks who also recently raised its prices.

21 types of coffee and beverages are affected and prices will increase from between 100 won and 400 won.

Cafe lattes will see the biggest increase from the current 4,600 won to 5,000 won.

The company said the price increase was attributed to a sharp rise in material goods such as coffee beans and milk as well as labor and logistics costs.

Twosome Place is the largest domestic coffee shop in the country and second in terms of market share after Starbucks.

Smaller coffee chains are also expected to increase prices in the coming months.