Good news for shoppers in South Korea: instant noodles and cooking oil prices are set to drop starting next month, as major food companies respond to falling raw material costs and the government’s push to stabilize living expenses.
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| Korean President Lee Jae-Myung was eating Ramyon (Instant Noodles) |
According to the Ministry of Agriculture, Food and Rural Affairs, four major ramen companies will lower prices of some products by ₩40–₩100 (about 4.6%–14.6%), while six cooking oil producers plan to reduce prices by ₩300–₩1,250 (about 3%–6%).
Several well-known brands have already confirmed adjustments:
- Samyang Foods will cut the price of its classic Samyang Ramen Original by an average of 14.6%.
- Nongshim plans to reduce prices for 16 ramen and snack products, including the popular Anseongtangmyeon, by around 7%.
- Ottogi will lower prices on eight ramen products by an average of 6.3%.
This move follows similar price cuts in other parts of the food industry. Earlier this year, Korean producers of flour, sugar, and starch syrup lowered prices, and bakery chains like Paris Baguette and Tous les Jours also announced cheaper bread and cakes.
Still, companies say the situation remains uncertain. Rising oil prices, exchange rates, and shipping costs, partly driven by instability in the Middle East, could increase production expenses again in the future.
Meanwhile, President Lee Jae-myung welcomed the price cuts, noting that reducing product prices during uncertain economic times is rare and saying the decision will help ease the cost-of-living burden for citizens.
💬 For many households in Korea, ramen is a daily staple—so even a small price drop could make a noticeable difference at the checkout.