07-04-2025
Paldo to raise ramyeon prices on high costs next week
South Korean food company Paldo Co. said Monday it will raise the prices of its instant noodle and beverage products next week, citing recent hikes in raw material prices.
Paldo plans to raise the retail prices of 31 ramyeon and 11 beverage products by an average of 7.8 percent and 7.6 percent, respectively, starting next Monday, the company said in a press release.
The price of Paldo Bibimmyeon, the most popular among the company's ramyeon products, will rise to 1,150 won ($0.78) from the current 1,100 won, while that of Paldo Wang Ttu Keong is set to rise to 1,500 won from 1,400 won.
"The price hike is inevitable to reflect rising raw materials, logistics and labor costs," the release said.
Paldo last raised its product prices in October 2022.
Dozens of local food and beverage companies have already increased the prices of their mainstay products due to higher costs.
Paldo's bigger rival Nongshim Co. raised the prices of 14 ramyeon products by an average 7.2 percent and three snack products by 7.4 percent on March 17.
Samyang Foods Inc., renowned for its Buldak spicy ramyeon, has said it is not considering price hikes at the moment. (Yonhap)
