Customers are looking at fragrance-related products at the Lush store in Gangnam, Seoul. This photo is unrelated to the article content. /Courtesy of Chosun DB

The Korea Consumer Agency announced on the 27th that it had identified four products in its survey of shrinkflation products for the third quarter of this year. Shrinkflation, a combination of shrink and inflation, refers to a method by which corporations increase prices by reducing the size or capacity of products, making it difficult for consumers to notice.

The Consumer Agency, after compiling sales product information from eight retail corporations including department stores, large supermarkets, and online malls, as well as reports from consumer protection law enforcement monitors, confirmed that among the more than 260,000 pieces of information collected in the third quarter of this year, a total of four products had their capacity reduced or unit prices increased without informing consumers.

Of the four products identified for shrinkflation, two are domestic products. The ready-to-eat food product "The Side Dish Haenyeo's Kitchen Jeju Horned Conch Seaweed Soup (Frozen)" manufactured by Osung Food and sold by Dongwon F&B was reduced from 600g to 550g, a decrease of 8.3%. The "Stubborn Young Man Handmade Oranda," manufactured and sold by Stubborn Young Man, was reduced from 500g to 450g, representing a 10% decrease.

The two imported products were both manufactured and sold by Lush Korea. The 250g and 500g versions of "Lush Dirty Springwash Shower Gel Spearmint Scent" were originally 280g and 560g, respectively. Both products were reduced by 10.7%.

The Consumer Agency plans to notify the relevant local government authorities to take appropriate actions, including imposing fines, against the businesses that have been identified for shrinkflation, in accordance with the "Notification on Unfair Consumer Transaction Practices by Businesses" that has been in effect since August 3.

A Consumer Agency official said, "We will disclose information about products with changed capacities for the third quarter through the Fair Price website and advise the manufacturers and sellers of those products to provide information on their websites or online shopping malls." They added, "We will also post information about capacity changes at major retailers such as large supermarkets, department stores, and online malls so that consumers visiting the stores are informed."