South Korea's Ramen and Cooking-Oil Majors Cut Prices Next Month.
South Korea’s major ramen and cooking-oil producers have announced price cuts on a range of products, with the plan set to take effect next month. The disclosure was made by President Lee Jae-myung at the Blue House on the 12th.
Nongshim said it will average a 7% price reduction across ramen and snack items, covering 12 varieties of bagged noodles including Ansungtangmyun, Mupama, and Hururukguksu. Shin Ramyun and Shrimp Chips are not among the discounted items.
Ottogi followed with an average price cut of about 6.3% for several lines, including Jinjjambong, Guljinjjambong, Cream Jinjjambong, The Hot Yeolramyeon, Ma Yeolramyeon, Jajulang, and Jinjjajang. The shifts reflect ongoing industry moves to respond to fluctuations in input costs and consumer affordability.
Samyang Foods also said it would reduce prices on its Original Samyang Ramyeon bag and cup products, though its flagship Buldak Bokkeummyeon (Fire Noodles) is not included in the adjustment.
Industry observers have linked the planned price cuts to a broader trend in which declining flour prices are easing one of the noodles’ primary raw-material costs. However, the price changes cover only selected products, and not all items from these brands.
Separately, several major producers—CJ CheilJedang, Sajo Daerim, Ottogi, Lotte Well-Pharm, and Dongwon F&B—also said they would lower prices on certain cooking oils, including sunflower, grapeseed, and canola oils. The reductions target a subset of oil products rather than entire lines.
Why this matters for the United States: Korea is a major importer of agricultural feeds and consumer foods, and price signals from its large manufacturers can influence regional supply chains and inflation in nearby markets. If noodle and oil prices stabilize or fall, related costs for Korean exporters and foreign buyers could ease, potentially affecting packaging, logistics, and pricing for multinational brands with Korean supply chains. For U.S. consumers and investors, the development sheds light on global commodity dynamics, including grain and oil markets, and how large consumer-goods companies adjust pricing in response to input costs and exchange-rate movements.