Ottogi Followed by Pulmuone and Lotte Wellfood Joining "Price Increase Withdrawal"

The food industry, which had planned to raise prices on major products, is withdrawing those plans one after another, showing a willingness to cooperate with the government's price stabilization policy.

According to the food industry on the 29th, Pulmuone had planned to raise the prices of three dairy products sold at convenience stores?Choco Granola, Yogurtok Star Ball, and Yogurtok Choco Pillow?but recently notified convenience stores and others that it would withdraw the price increase plans.

Pulmuone originally planned to raise the prices of the three products sold at convenience stores from 2,200 won to 2,300 won starting next month on the 1st.

Lotte Wellfood also withdrew its plan to raise the convenience store price of its ham product "Big Farm." The company had intended to increase the price by 10%, from 2,000 won to 2,200 won, but decided to cancel the plan.

Earlier, Ottogi also decided to withdraw its plan to raise convenience store prices for 24 products, including its representative curry and ketchup products. This is interpreted as an effort to cooperate with the government's price management policy.

Recently, the government has been visiting food companies one after another, requesting cooperation for price stabilization. The Fair Trade Commission and the Korea Consumer Agency also held meetings related to shrinkflation targeting domestic food and distribution companies.

On the same day, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho appeared on Yonhap News TV and said, "Shrinkflation, which maintains prices while reducing quantity, is a deceptive sales practice," adding, "The government is discussing shrinkflation regulation measures with industry and consumer groups and plans to present measures in December."

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