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South Korean instant noodle manufacturer announces price reduction
South Korea’s instant noodle producer said on Thursday that, in response to the government’s measures to stabilize consumer prices that have been rising continuously, it will lower the prices of its instant noodle products next month. The four largest ramen companies in South Korea—Nongshim, Samyang Foods, Ottogi, and Paldo—said the move is intended to help consumers ease their cost of living. Nongshim said that, effective April 1, it will reduce the prices of 12 instant noodle products and 4 snack items by an average of 7%. Samyang Foods, known for its turkey-flavored noodles, plans to cut the prices of two of its instant noodle products and one cup noodle by 14.6%, but the turkey noodles are not included in this price reduction plan. Ottogi plans to lower the prices of eight instant noodle products by 6.3%. Paldo plans to reduce the prices of 19 products by 4.8%. (Sina Finance)