Online malls also display 'price per gram'... Unit price must be indicated for cup ramen and meal kits as well

Announcement of 'Measures to Expand Information Provision on Capacity Reduction, etc.' at the Fair Trade Commission Emergency Economic Ministers' Meeting on the 12th

The display of ‘unit price’ for products will also be mandatory in online distribution spaces. Food companies that were previously exempt from the unit price display obligation, such as those selling ready-to-eat foods, will now be required to display unit prices. The labeling of package volume will be clarified to show ‘volume before change → volume after change’ to enhance the effectiveness of price display. This measure is in response to the spread of shrinkflation, where the volume is subtly reduced while the price remains the same.

On the 13th, the Korea Fair Trade Commission (KFTC) announced the ‘Plan to Expand Information Provision on Volume Reduction, etc.’ at the ‘Emergency Economic Ministers’ Meeting’ chaired by Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho. According to the current Ministry of Trade, Industry and Energy notice, offline stores of large-scale retailers are required to display unit prices for 84 items, including processed foods (62 items), daily necessities (19 items), and fresh foods (3 items). Accordingly, stores like E-Mart display the ‘price per gram’ for each product on their shelves.

[Image source=Yonhap News]

Going forward, this price display requirement will also apply to online malls. However, the specific scope, such as whether it will include communication sales intermediaries like Naver Smart Store or open markets like 11st, will be determined through stakeholder consultations. The KFTC plans to conduct a research project next year to finalize the plan. Additionally, ready-to-eat foods, cup noodles, hygiene products, and other items currently exempt from the unit price display system will also be required to display unit prices.

To help consumers easily recognize price changes, related notices will be revised to specify detailed price changes. The Ministry of Environment’s standards for household chemical products (designation and safety/labeling standards for safety-confirmed household chemical products) and the Ministry of Food and Drug Safety’s food labeling standards will be amended to require package volume labeling to show ‘volume before change → volume after change.’ Disclosure of information related to changes in food ingredients will also be promoted. However, since disclosing all raw material changes could infringe on companies’ trade secrets, disclosure will be limited to cases where the content of raw materials used in the product name has changed.

[Image source=Yonhap News]

Monitoring by the Korea Consumer Agency will also be strengthened. Currently, the agency monitors 128 essential daily items, but this will be expanded to 158 items (about 500 products). In addition to price information surveys, weight change information will also be investigated to provide continuous information on shrinkflation.

Cho Hong-seon, Vice Chairman of the Korea Fair Trade Commission, said, “We will faithfully implement the plan to expand information provision on volume reduction, etc., so that consumers can timely and accurately understand information related to shrinkflation.”

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