Following seaweed prices, soy sauce prices also rise, increasing burden on consumers in South Korea

Following the rise in seaweed prices, soy sauce prices are also on the rise. As the prices of everyday ingredients continue to rise, the food burden on consumers is expected to increase even more.
Sempio Foods, the number one soy sauce manufacturer in Korea, plans to raise the prices of its soy sauce products by an average of 7.8% as early as next month.
The price of "501 Brewed Soy Sauce" will increase by 11.8%. The company said, "We have been postponing the increase as long as possible to participate in the Korean government's price stabilization policy, but we have decided to increase the price this time due to rising raw material and production costs.
This is Sempio Foods' first price hike in about two years. In 2022, Sempio Foods raised its average prices by 11.5% in the aftermath of Russia's invasion of Ukraine.
Some have expressed concern that with the recent high price situation continuing, other seasoning manufacturers may follow Sempio Foods and raise prices in the near future.
CJ Cheil Jedang and Gwangchon Jedang have been considering price adjustments internally, but have no concrete plans to raise prices.
Kim, Taecheong Kim, and Sungkyung Foods have already raised their prices. Dongwon F&B, the leader in the seasoned seaweed market, also announced on the 24th that it will increase the price of seaweed by 15% from June.
The representative product, Dongwon's "Yangban Perilla Oil Seaweed" (4.5g, 20 bags), will exceed 10,000 won (about 1,146 yen) with this increase. The price is 9,480 won.
The price will increase by 1,500 won (about 172 yen, 15.8%) from 10,980 won (about 1,086 yen) to 10,980 won (about 1,258 yen).