Price Hikes in Korean Food Products and Antitrust Monitoring
Creatrip Team
a year ago
Major Korean food companies are increasing the prices of various products, including ramen noodles and beverages. While Samyang Foods, known for its popular Buldak Bokkeum Myun (spicy chicken fried noodles), is freezing its prices this year, other companies such as Paldo are raising prices by up to 8.3% due to rising production costs. Concerns have arisen that these price hikes could be a result of collusion, prompting the Korea Fair Trade Commission to investigate any potential unfair practices in the industry. These increases contribute to the climbing consumer price index in Korea.
