Nongshim to Raise Prices on Key Noodle and Snack Products

Nongshim, a major South Korean food company, announced it will increase the ex-factory prices for 43 brands, averaging a 5.8% rise, effective November 1. The adjustment affects key cup noodle products, snacks, and beverages.

Specifically, the prices for 18 cup noodle brands, including Yukgaejang Bowl Noodle and Shin Ramyun Cup, will rise by an average of 6.0%. Snack prices, covering 23 brands like Shrimp Crackers and Honey Twist Snacks, will increase by 5.5%. Beverage prices will see the largest jump at 7.7%.

This price hike comes after a 17-month hiatus for cup noodles since March 2023. Shrimp Crackers, after a price reduction in 2023, will return to a higher price point, effectively marking a nearly four-year increase. However, Nongshim has excluded bagged versions of Shin Ramyun and all other bagged noodle products, which constitute 63% of its total noodle sales, from this price adjustment to lessen the impact on consumers.

To further ease the burden, Nongshim plans to expand promotional activities, including discounts and special offers, primarily through large supermarkets, convenience stores, and e-commerce channels across the country.