Nongshim, Samyang to cut ramyeon prices in line with gov't cost stabilization efforts

Foreign tourists select Korean ramyeon products at a supermarket in Seoul, Jan. 12. Yonhap

Korean ramyeon makers said Thursday they will lower prices of their instant noodle products next month in line with the government's efforts to stabilize rising consumer prices.

The country's four major ramyeon companies — Nongshim, Samyang Foods, Otoki and Paldo —said the decision aims to help ease consumers' living costs.

Industry leader Nongshim said it will lower the prices of 12 ramyeon products and four snack items by an average of 7 percent starting April 1.

Samyang Foods, known for its globally popular Buldak spicy ramyeon, plans to cut the prices of two Samyang ramyeon products and its cup noodles by 14.6 percent.

Samyang's Buldak Bokkeum Myeon — often marketed internationally as fire chicken instant noodles — will not be subject to the planned price cuts.

Otoki, formerly known as Ottogi, plans to lower the prices of eight ramyeon products by 6.3 percent. Paldo plans to cut the prices of 19 ramyeon products by 4.8 percent.

Meanwhile, companies including CJ Cheiljedang, Sajo Daelim, Otoki and Lotte Wellfood said they will lower cooking oil prices for the same reason.