Starbucks Korea's Gimpo Aegibong Ecopark store in Gimpo, Gyeonggi Province, is crowded with visitors, Dec. 21, 2024. The store is located just 1.4 kilometers from the Demilitarized Zone separating South and North Korea. Yonhap

Starbucks Korea announced, Monday, that it will raises the prices of 22 coffee and tea beverages by 200 won ($0.15) to 300 won on Friday, citing soaring ingredient costs and the rising exchange rate due to the weakening Korean currency.

A tall Americano will increase by 200 won to 4,700 won, while a tall brewed coffee, known here as Today's Coffee, will rise by 300 won to 4,500 won, based on the new price adjustment.

On the other hand, Starbucks said it will maintain the current prices for 10 kinds of beverages, including Dolce Cold Brew and some tea bag-based drinks, while lowering the prices of grande and venti iced brewed coffee by 200 won to 5,100 won and 5,900 won, respectively.

This marks the third price hike by the Seattle-based coffee company within five months. Last August, it raised the prices of grande and venti products by 300 won and 600 won, respectively, followed by another price increase of 200 won for 11 tall iced beverages.

According to Starbucks, the prices of the 22 products have remained unchanged during the past three years.

Starbucks Korea said in a statement that it has "made efforts to minimize the burden on customers despite consistently rising costs, but the price adjustments are inevitable due to higher exchange rates and ingredient costs."