[Alpha Biz= Paul Lee] SEOUL, South Korea — On the 12th, President Lee Jae-myung announced during a Blue House senior aides' meeting that major cooking oil and ramen manufacturers will reduce prices for some products by up to double digits starting next month. While the President welcomed the move as a significant step toward stabilizing the cost of living, a closer look at the "Ramen Big 4" price cuts reveals a strategic exclusion of their most popular products.

The "Polite" Pressure from the Ministry
The price reduction follows a closed-door meeting on the 5th, where the Ministry of Agriculture, Food and Rural Affairs "requested" executives from Nongshim, Ottogi, Samyang Foods, and Paldo to join the national price stabilization trend. In the industry, such requests are widely interpreted as a formal directive to lower prices.

Breakdown of the Price Cuts (Effective April 1)

Nongshim: Reducing prices for 12 products. Anseongtangmyun (3 types) will drop by 5.3%, and Mupamatangmyun by 7.2%.

Ottogi: Lowering prices for 8 products, including Jin Jjambbong and The Hot Yeul Ramyun.

Samyang Foods: Only lowering the price of Samyang Ramyun Original (2 types), but with a significant 14.6% cut.

Paldo: Reducing prices for 19 products, including its flagship Paldo Bibim-myeon (3.9%) and King Lid (Wangttukkeong, 4.6%).

The "Cherry-Picking" Controversy: Where are the Flagships?
Critics argue that the price cuts are more of a "discount marketing campaign" than a genuine effort to curb inflation, as the top-selling items were largely untouched.

Nongshim: Of its "Top 5" (Shin Ramyun, Chapagetti, Yukgaejang Bowl, Neoguri, Anseongtangmyun), only the lowest-priced Anseongtangmyun was included. The best-selling Shin Ramyun remains at its current price.

Ottogi: Its signature Jin Ramyun was notably absent from the list.

Samyang Foods: While Samyang Ramyun got a cut, its real cash cow, Buldak Bokkeum-myeon (Spicy Chicken Noodles), was excluded.

Conversely, Paldo is being praised for its "sincerity," as it included almost all its representative products and even its new premium "Sangnamja Ramyun" in the 19-item reduction list.

The Missing Players and the "Rebound" Risk
The exclusion of premium manufacturers like Pulmuone and Harim Industrial also drew disappointment. These companies, known for high-priced non-fried (dried) noodles, were not invited to the Ministry's meeting and thus maintained their current pricing.

Furthermore, market observers are wary of a "price rebound." In June 2023, the industry lowered prices at the government's request, only to hike them again in March of the following year during a period of political instability.

"With the Lee Jae-myung administration still in its early stages, the industry has complied quickly," said a market analyst. "However, the question remains whether these prices will hold, or if the 'Ramen Big 4' will wait for the first opportunity to revert to original pricing once the political pressure subsides."

 

 

 

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