Nongshim raises its prices on ramyeon and other snacks (2024)

Nongshim raises its prices on ramyeon and other snacks (1)

Nongshim's Shin Ramyun and Tempura Udon cup noodles are sold at a discount mart in Interlaken, Switzerland, on June 16. [JOONGANG ILBO]


Nongshim is raising its ramyeon and snack prices due to the growing cost of raw materials and the company’s low performance.

After the raise, the price of Nongshim's Shin Ramyun will increase by 10.9 percent and Neoguri 9.9 percent, according to the company on Wednesday.


Based on prices at discount marts, the price of Shin Ramyun is expected to increase from the current average of 736 won ($0.55) to 820 won.

The price raise comes a year after the company increased its ramyeon prices in August last year and six months after it raised the prices of its snack.

Last August, the company raised prices for its major ramyeon brands an average of 6.8 percent, upping Shin Ramyun’s price by 7.6 percent.

Prices of 23 snack items will also be raised.

The price of Saewookkang, or shrimp-flavored chips, will rise 6.7 percent from the current average of 1,100 won to 1,180 won. The price of its Honey Twist Snack will increase by 5.9 percent.

The company explained the high production cost due to inflation has led it to increase the prices of these food items.

Local suppliers raised the costs of raw ingredients, such as flour, after the second quarter, adding more burden to the company, Nongshim said.

“We internally made efforts to cut costs and increase business efficiency in order to not raise the prices of ramyeon and snacks, as the raise would affect the consumer price index,” said a spokesperson for Nongshim.

“But increasing the price was inevitable as the company saw a big deficit in the second quarter in the domestic market," the spokesperson said.

“An immediate price rise is needed at the moment, but considering the stability of consumer prices, we decided to up the prices after the Chuseok holidays.”

The price adjustments will be enforced from Sept. 15,after the Chuseok harvest festival holidays.

Nongshim’s revenue rose 17 percent on year, but recorded an operating loss in the second quarter, the first time in 24 years that the company recorded a loss in the domestic market.

Nongshim’s move to raise prices after the holidays is anticipated to cause other big ramyeon makers, such as Ottogi and Samyang Foods, to also raise their ramyeon prices.

Following Nongshim's lead, Ottogi increased its ramyeon prices by 11.9 percent on average last August. A month later, Samyang Food also upped its major ramyeon price by 6.9 percent, and Paldo by 7.8 percent.

BY CHO JUNG-WOO [cho.jungwoo1@joongang.co.kr]

Nongshim raises its prices on ramyeon and other snacks (2024)

FAQs

Nongshim raises its prices on ramyeon and other snacks? ›

Nongshim is raising its ramyeon and snack prices due to the growing cost of raw materials and the company's low performance. After the raise, the price of Nongshim's Shin Ramyun will increase by 10.9 percent and Neoguri 9.9 percent, according to the company on Wednesday.

How much does Shin Ramyun cost in Korea? ›

Based on their retail prices, the price of Shin Ramyun will be lowered from 1,000 won ($0.77) to 950 won on average, while the price for Shrimp Crackers will be down from 1,500 won to 1,400 won.

Who is the owner of Nongshim? ›

The company is currently chaired by Shin Dong-won, son of the founder Shin Choon-ho.

What is the issue with Shin Ramyun? ›

Nongshim ramen products face scrutiny after recall over cancer-causing chemical. South Korean food company Nongshim is facing scrutiny from consumer groups in Korea following the recall of its Shin Ramyun Black Tofu Kimchi instant noodles in Taiwan and Thailand, purportedly due to the detection of harmful substances.

Does Nongshim Shin Ramyun have pork? ›

Nongshim Shin Ramyun Black is a premium instant noodle product known for its rich and spicy flavor. This variation of the popular Shin Ramyun brand offers an even more intense and savory taste experience. The soup base is made with a combination of beef, pork, and chicken, which gives it a deep and hearty flavor.

Is it OK to eat Shin Ramyun everyday? ›

While instant ramen is not bad for you, it isn't recommended as a single food daily or multiple times per day on its own due to its high-sodium flavoring packet or broth. Adding additional toppings, such as protein and vegetables, to the wheat noodle and broth base can increase its nutrition profile.

What is the cheapest thing in South Korea? ›

There are a lot of things could buy in Korea with 10,000 won. Cup ramen (컵 라면) is pretty cheap, at about 1,000 won per “cup”, therefore you can buy about 10 cups of ramen with manwon. You can also buy several cheap gummies, water, chips, etc.

Is Shin ramen made in China? ›

Shin Ramyun (Korean: 신라면, styled as 辛라면 with Hanja) is a brand of instant noodle (including cup ramyeon) that has been produced by the South Korean food company Nongshim since 1 October 1986.

Who invented Korean ramyun? ›

All of this began with Samyang Foods, founded in 1961 by Chun Joong-yoon, a former insurance company executive, amid severe postwar food shortages. After witnessing his countrymen lining up to eat a stew made from leftovers from U.S. Army bases, Chun came to believe that instant noodles could be the solution.

Is Nongshim noodles fried? ›

Dried noodle is not fried but dried with hot air after steaming. Steamed noodles or hot air dried noodles are dried through the hot air drier for about 30 minutes.

Is nongshim ramen unhealthy? ›

Though instant ramen noodles provide iron, B vitamins and manganese, they lack fiber, protein and other crucial vitamins and minerals. Additionally, their MSG, TBHQ and high sodium contents may negatively affect health, such as by increasing your risk of heart disease, stomach cancer and metabolic syndrome.

Can Muslims eat Shin Ramyun? ›

The manufacturer guarantee the ingredients used in the product are also clean and safe to be consumed by Muslim consumers.

Is there MSG in Shin Ramyun? ›

About Shin Ramyun Bowl

More noodles, more fresh vegetables and more delicious soup, all ready to eat in just 4 minutes. Our new formula is made with less sodium and no added MSG, so it's sure to please everyone. All our noodles are produced from farm-fresh produce, premium quality grains and the finest blend of spices.

What meat is in Shin Ramyun? ›

Instant ramyun comes with packets of dehydrated garnishes including chile pepper, scallions, mushrooms, and thin flakes of beef.

What is shin black? ›

Shin Black is all about the broth – thick and rich with garlic and onion to give the depth of flavour that you crave. Plus the famous Shin Ramyun 'kick', with red pepper and green onion to add a powerful punch. Produced from farm-fresh produce, premium quality grains and spices, and with less sodium and no added MSG.

What pork is used in ramen broth? ›

Chashu pork is most commonly made using pork belly, which helps it get to that super delicious, melt-in-your-mouth level of tender thanks to the fat content. If you can't get your hands on pork belly though, you can use pork shoulder or pork loin for your chashu pork.

How much are ramen noodles in South Korea? ›

Instant noodles are an inexpensive and ubiquitous item in South Korea, generally retailing for less than $2 per portion, making them a go-to for people with low incomes. A variation of ramyun featured in the 2019 movie sensation "Parasite" as a meal option for a down-at-heel family.

Is Shin Ramyun popular in Korea? ›

Shin Ramyun (Korean: 신라면, styled as 辛라면 with Hanja) is a brand of instant noodle (including cup ramyeon) that has been produced by the South Korean food company Nongshim since 1 October 1986. It is now exported to over 100 countries, and is the best-selling instant noodle brand in South Korea.

How much is a bowl of noodles in Korea? ›

According to the Korea Consumer Agency data, the average price of a bowl of jajangmyeon, or noodles in black bean sauce, in Seoul increased by 12.5 percent on-year to 6,915 won ($5.20), up from 6,146 won a year ago.

How much are noodles in Korea in won? ›

Average lunch of bibimbab or noodles: 5,000 to 6,000 won (prices same at dinner for most items except things like "hwe" which is Korean-style sashimi). Galbi dinner costs anywhere from 25,000 to 60,000 won.

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