In line with the government's price-stabilization policy, the three major ramen companies and others will cut product prices starting on the 1st of next month.
According to the food industry on the 12th, OTOKI decided to lower the factory prices of major ramen and cooking oil products by an average of 6% starting Apr. 1. Ramen products will be reduced by an average of 6.3% based on factory prices. Eight ramen products are subject to price cuts: ◇ Jin Jjambbong ◇ Gul Jin Jjambbong ◇ Cream Jin Jjambbong ◇ The Hot Yeol Ramen ◇ Ma Yeol Ramen ◇ Jja-chef ◇ Jin Jjajang ◇ Jin Jjolmyun. Four cooking oil products will see an average 6% cut: ◇ OTOKI extra virgin olive oil 0.5ℓ ◇ OTOKI extra virgin olive oil 0.9ℓ ◇ OTOKI sunflower oil 0.5ℓ ◇ OTOKI sunflower oil 0.9ℓ.
Nongshim will cut the factory prices of a total of 16 ramen and snack items by an average of 7%, including Ansungtangmyun by 5.3% and Mupama Tangmyun by 7.2%. The items include: ◇ three Ansungtangmyun varieties ◇ Yukgaejang Ramen ◇ Sarigomtangmyun ◇ Hururuk Guksu ◇ Hururuk Kalguksu ◇ Mupama Tangmyun ◇ Gamja-myeon ◇ Jjawang ◇ Bogle Bogle Budae-jjigae-myeon ◇ Saewoo Tangmyeon ◇ four Jjolbyeong Snack varieties. Samyang Foods will also reduce the factory prices of two Samyang Ramen Original products (bag noodles and cup noodles) by an average of 14.6%. It will also cut prices of olive oil, canola oil, and sunflower oil products by up to 5.2%.
A food industry official said, "We decided to cut prices to join the government's price-stabilization policy," and added, "We will continue to work actively to ease household burdens and enhance consumer benefits."
President Lee Jae-myung said at a Blue House meeting of senior secretaries and aides in the afternoon, "I was briefed that cooking oil and ramen manufacturers will reduce prices for some products by up to double digits starting with shipments next month," adding, "It will greatly help ease the public's burden from prices and stabilize livelihoods." He added, "I feel that it is almost the first time that product prices are being lowered at a time of such change," and "I extend my thanks to the corporations that have joined in overcoming the crisis."