4 July 2023
By Changwon(Luke) Choi
A few days after when Choo Kyung-ho, Deputy Prime Minister for Economy and Minister of Strategy and Finance, mentioned the price of ramen, the three main ramen brands, Nongshim, Samyang, and Ottogi, decided to reduce the price of their ramen products. Ottogi announced on June 28th that they would cut the price of 15 ramen products by an average of 5% starting July 1st. Ottogi explained that the price reduction was carried out to contribute to price stability. Snack noodles (스낵면) are reduced by 5.9% from 3,380 won to 3,180 won, and sesame seed ramen (참깨라면) is also priced from 4,680 won to 4,480 won, and Jinjjamppong (진짬뽕) is 4.6% lower from 6,480 won (4 packs) to 6,180 won. As with Ottogi, Nongshim will deduct the price of their products from July 1st. Their best seller, Shin-ramen (신라면), will be reduced by 4.5%, which would be from 1,000 to 950 won for one pack. Following Ottogi and Nongshim, Samyang Foods will also lower the prices of 12 representative products, including Samyang Ramen, Jjajjaroni, Tasty Ramen, and Yeolmu Bibimmyeon, by an average of 4.7%. The price of five multi-products of Samyang Ramen decreased by 4.2% from 3,840 won to 3,680 won based on the discount store selling price, and Jjajjaroni’s four multi-products decreased by 4.7% from 3,600 won to 3,430 won.