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Nongshim Raises Prices to Enhance Profitability

Creatrip Team

a year ago

Starting from today, Nongshim, Korea’s leading instant noodle producer, increases the prices of 17 brands by an average of 7.2%. This move aims to improve profit margins amidst rising raw material costs, fluctuating exchange rates, and increased marketing expenses due to new product launches. The price hikes follow a 2-year gap since the last increase and come as the company seeks to reverse a decline in operating income and maintain its competitive edge in both domestic and international markets.

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