[Featured Stock] Nongshim Rises Over 6% on Price Increase of Major Products

[Asia Economy Reporter Kwon Jae-hee] Nongshim is showing strong performance in the early trading session following news that it will raise the ex-factory prices of its main products, including Shin Ramyun, starting next month.

On the 24th, as of 10:14 AM in the KOSPI market, Nongshim was trading at 312,500 KRW, up 6.47% compared to the previous trading day.

During the session, Nongshim's stock price surged nearly 8% to reach a high of 319,000 KRW before giving up some of the gains.

This sharp rise came after Nongshim announced that from the 15th of next month, it will increase the ex-factory prices of ramen and snacks such as Shin Ramyun (10.9%), Neoguri (9.9%), Saewookkang (6.7%), and Honey Twist Snack (Kkul Kkwaebae-gi) (5.9%). The ex-factory prices of 26 ramen products and 23 snack products will rise by an average of 11.3% and 5.7%, respectively. Shin Ramyun is currently sold at an average of 736 KRW per pack in large supermarkets, which is expected to increase to 820 KRW, while Saewookkang is expected to rise from 1,100 KRW to 1,180 KRW.

The company had previously raised prices for ramen and snacks in August last year and March this year, respectively.

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