All Three Major Ramen Companies Raised Prices... Samyang Foods Increases Ramen Prices by 6.9%

Nongshim, Ottogi, and Samyang Simultaneously Raise Prices
Unavoidable Due to Increased Overhead and Raw Material Costs

[Asia Economy Reporter Lim Hye-sun] Samyang Foods announced on the 11th that starting from September 1, it will raise the recommended retail prices of 13 brand products, including Samyang Ramen and Buldak Bokkeummyeon, by an average of 6.9%.

With this increase, products such as Samyang Ramen, Jjajjaroni, and Masisseun Ramen will go up by 50 won, while Buldak Bokkeummyeon and Carbo Buldak Bokkeummyeon will increase by 100 won.

This price hike for Samyang Foods' ramen is the first in 4 years and 4 months since May 2017. A representative from Samyang Foods stated, "Since ramen is a representative affordable food, we tried to bear the burden of rising costs through production efficiency improvements, but due to continuous increases in labor costs, logistics expenses, and other overall costs, as well as pressure from rising raw material prices such as palm oil, flour, and soup base, it became inevitable to raise prices."

Earlier, Nongshim announced that from the 16th, it will raise the shipment prices of major ramen products such as Shin Ramyun by an average of 6.8%. The price increase rates for major products based on shipment prices are Shin Ramyun 7.6%, Ansungtangmyun 6.1%, and Yukgaejang Bowl Noodles 4.4%. Currently, Shin Ramyun is sold at an average of 676 won per pack in large supermarkets, and the price will rise to about 736 won. Ottogi also raised the prices of major ramen products such as Jin Ramen by an average of 11.9% starting from the 1st. Jin Ramen (mild and spicy) will increase by 12.6%, and Snack Noodles by 11.6%. Based on large supermarket prices, the price of one pack of Jin Ramen will change from 550 won to 620 won.

This content was produced with the assistance of AI translation services.