Prices for Nongshim cup ramen and snack products will be raised starting next month.

Nongshim announced that it will raise the factory prices of 43 brand products, including major cup ramen, snacks, and beverages, by an average of 5.8% starting next month.

Nongshim hit products, such as Yukgaejang Cup Ramen, are expected to rise from 1,100 won to 1,200 won at retail stores, and Saewookkang from 1,500 won to 1,600 won.

This price hike comes 1 year and 5 months after the last ramen price increase in March of last year, and 3 years and 11 months after the Saewookkang price increase in September 2022.

Nongshim explained the reason for the price hike, stating, "Cost burdens have intensified due to skyrocketing material prices such as packaging materials driven by the aftermath of high exchange rates and high oil prices," adding that it is "due to recent deterioration in domestic profitability and increases in supply prices from partners."

However, the company added that packet ramen, which accounts for more than 60% of total ramen sales, was excluded from this price hike as part of efforts to stabilize consumer prices and minimize consumer burdens.

BR Korea, which operates Dunkin, will also raise the prices of 39 Dunkin donut varieties by an average of 6.5% starting on the 2nd of next month.

(Photo: Yonhap News)