CJ CheilJedang(097950) said on the 16th that it will raise prices by an average of 8% across a total of eight categories and 27 items, including Hetbahn, dumplings and grilled fish.
That day, CJ CheilJedang said this was a decision made as cost pressures persisted due to rising prices of key raw and subsidiary materials and packaging materials such as naphtha.
By item, the price increase rates are 12% for Hetbahn, 4.6% for dumplings and 8.4% for grilled fish, ranging from 4% to 12% overall. The higher prices will take effect at big-box retailers starting on the 30th and at convenience stores starting on Aug. 1.
A CJ CheilJedang official said, "We have done our best to absorb price hike factors, but as increases in key raw and subsidiary material costs continued, cost pressures grew, leading us to adjust prices for some products," and added, "We minimized the items and scale of increases in consideration of consumer burdens."
CJ CheilJedang excluded Hetbahn Cupbahn and dessert products—signature convenience store items heavily used by younger consumers such as students—from this round of price hikes. It also added that it would internally absorb the increase factors for sauces such as gochujang, doenjang and ssamjang, as well as for chilled and frozen noodle products.