Nongshim to Raise Prices of 43 Brands by 5.8%

Nongshim will increase the ex-factory prices of its popular cup noodles, snacks, and beverage products by an average of 5.8% starting August 1.
 
The primary reason for this price hike is the rising costs of materials, including packaging, due to prolonged high exchange rates and oil prices.
 
However, all instant noodle products, including Shin Ramyeon, which directly affect consumer prices, will be excluded from this price increase.
 
According to Nongshim on July 24, the price adjustment will affect a total of 43 brands, including 18 cup noodles, 23 snacks, and 2 beverages. The average increase by category is 6.0% for cup noodles, 5.5% for snacks, and 7.7% for beverages.
 
As a result, the recommended retail prices for key products will also rise. The popular cup noodle 'Yukgaejang Cup Noodle' is expected to increase from 1,100 won to 1,200 won, while the national snack 'Shrimp Chips (90g)' will go up from 1,500 won to 1,600 won.
 
The actual selling prices of major products such as Shin Ramyeon Cup, Honey Twist Snack, Capri Sun, and Welch's will also be adjusted gradually across different distribution channels.
 
This price adjustment marks the first increase for noodles in 1 year and 5 months since March 2025, while Shrimp Chips have seen a price increase for the first time in nearly 3 years and 11 months, following a decrease in 2023 after a previous increase in September 2022.
 
Nongshim stated that the accumulated cost burden has exceeded its capacity to absorb it.
 
A Nongshim official said, "The surge in material prices, including packaging, due to high exchange rates and oil prices stemming from international circumstances has significantly worsened the profitability of our domestic operations. We have managed to endure this through operational efficiency and cost-cutting measures, but the increase in supplier prices has made it unavoidable to adjust our prices."
 
Nevertheless, Nongshim has decided to freeze the prices of all instant noodles, which account for 63% of its noodle sales, to minimize the burden on consumers amid high inflation and to support the government's price stabilization efforts.
 
Additionally, the company plans to expand discounts and promotional offers at large supermarkets, convenience stores, and e-commerce platforms to reduce the perceived impact of the price increase on consumers.
 
Recently, the food industry has seen price adjustments due to rising costs of packaging, raw materials, and logistics. Lotte Chilsung Beverage raised the ex-factory prices of 44 items, including Chilsung Cider and Pepsi Cola, by an average of 5.3% in June, and Ottogi increased prices for 29 items, including curry, noodles, ketchup, and pepper products this month.