Nongshim, B.R. Korea, and CJ Foodville are set to increase prices on key products.
According to industry sources on July 24, Nongshim will raise the ex-factory prices of its popular cup noodles, snacks, and beverages by an average of 5.8% starting August 1.
The price adjustment will affect a total of 43 brands, including 18 types of 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 major products will also rise. The price of the flagship cup noodle 'Shin Ramyeon Cup' is expected to increase from 1,100 won to 1,200 won, while the popular snack 'Shrimp Chips (90g)' will go from 1,500 won to 1,600 won.
The actual selling prices of key products such as Shin Ramyeon Cup, Honey Twist Snack, Capri Sun, and Welch's will also be adjusted across various distribution channels.
This price adjustment marks the first increase for noodles in 1 year and 5 months since March 2025, and for Shrimp Chips, it follows a price increase in September 2022, a reduction in 2023, and another reduction before 2025. Nongshim explained that this is effectively the first increase in 3 years and 11 months.
Nongshim stated that the accumulated cost burden has exceeded its capacity to absorb it.
A Nongshim representative said, "Due to the impact of high exchange rates and oil prices stemming from international circumstances, the costs of packaging materials and other supplies have surged, significantly deteriorating the profitability of our domestic operations. We have endured this through management efficiency and cost-cutting, but the increase in supplier prices has made this adjustment unavoidable."
However, Nongshim has decided to freeze the prices of all items in the bag noodle category, which accounts for 63% of its noodle sales, to minimize the burden on consumers amid rising living costs and to align with 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.
B.R. Korea will raise the prices of 39 varieties of Dunkin' donuts by an average of 6.5% starting August 2.
Key items seeing price increases include the Famous Glazed and Cocoa Honey Dip donuts, which will rise from 1,700 won to 1,900 won, and the Crème Brûlée donut, which will go from 4,100 won to 4,200 won.
Some product prices have been reduced. Since July 22, Dunkin' has lowered the prices of three varieties of 'Dubai Style Chocolate Donuts' by 300 to 400 won.
A Dunkin' representative stated, "Due to rising costs across various sectors, we have had to adjust prices."
CJ Foodville announced on July 24 that Tous Les Jours will adjust prices on certain products, including bread and cakes, starting July 31.
This decision comes in response to soaring international raw material prices, including eggs, wheat, sugar, palm oil, and packaging materials due to recent changes in domestic and international circumstances.
CJ Foodville emphasized that rising exchange rates and oil prices have continued to increase overall costs, making this adjustment unavoidable.
As a result of this price adjustment, the recommended consumer prices for 76 products, including Tous Les Jours' Daily Milk Bread and Egg Toast, will increase by an average of 8.2%, with specific items rising by 200 won and 300 won, respectively.
A CJ Foodville representative stated, "Considering consumer burden, we have excluded popular items such as 'Red Bean Bread,' 'Soboro Bread,' and 'Castella' from this price adjustment to help stabilize perceived prices. CJ Foodville will continue to strive to provide better quality and service to our customers."
Recently, the food industry has seen a series of price adjustments due to rising costs of packaging materials, 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 on 29 items, including curry, noodles, ketchup, and pepper products this month.
* This article has been translated by AI.
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