Personally, I think Nongshim is raising the prices of some of its products, such as ramen noodles, because it has been affected by the rising prices of raw materials, which have increased the cost of manufacturing, and so it wants to raise the prices to offset this part of the cost.

How can I put it, in fact, most of the food price increases nowadays are due to the global economic crisis. Inflation brought about by the global economic crisis has led to an increase in the price of raw materials, especially this year, when first the conflict between Russia and Ukraine led to a spike in food prices, and then the extreme global heat that followed reduced crop yields. The prices of raw materials on the international market, basically followed the surge. For food producers, these wheat, which is the raw material for many products, their prices rose, their own purchase of raw materials cost more, the cost of manufacturing products will follow the higher. If they do not adjust the selling prices of their products, then their profits are reduced, and there is even no profit to be made, because the profits of food products themselves are very low. The likes of McDonald's and KFC, long, long ago were the ones that increased their prices because the price of raw materials went up and they couldn't afford it.

One thing is for sure, I was expecting the price hike on some of the products from Nongshim Korea. Because of the global economic crisis in the last two years caused by the rising cost of raw materials, especially this year, if it is the first two years, that is still normal. This year, because of the situation in Russia and Ukraine, as well as the impact of extreme heat, especially for the price of raw materials such as crops, but also directly take off in place. If the Korean agricultural center does not adjust the price of products related to this part of the raw material, it is either less profitable than before, or directly lose money. Of course, I prefer to believe that it's the Korean Nongshim that's trying to make more money. If it was losing money, it would have adjusted the prices of its products long ago, and it just wants to make as much money as it did.

Overall, Nongshim Korea's price hike is a decision made because of rising raw material prices in the international market and higher manufacturing costs.