Seoul: South Korean ramyeon makers announced on Thursday their plans to reduce the prices of instant noodle products next month, aligning with government initiatives to stabilize rising consumer prices. The four major ramyeon companies in the country, including Nongshim Co., Samyang Foods Inc., Otoki Corp., and Paldo Co., aim to alleviate consumers' living costs through this decision.

According to Yonhap News Agency, Nongshim, the industry leader, will decrease the prices of 12 ramyeon products and four snack items by an average of 7 percent starting April 1. Samyang Foods, recognized for its globally popular Buldak spicy ramyeon, intends to cut prices of two Samyang ramyeon products and its cup noodles by 14.6 percent. However, Samyang's Buldak Bokkeum Myeon, internationally known as fire chicken instant noodles, will not be included in the planned price reduction.

Otoki, previously known as Ottogi, plans to reduce prices for eight ramyeon products by 6.3 percent, while Paldo will cut prices for 19 ramyeon products by 4.8 percent. Additionally, companies like CJ Cheiljedang Corp., Sajo Daelim Co., Otoki, and Lotte Wellfood Co. have announced their intent to lower cooking oil prices, also in support of government cost stabilization efforts.