Top Seasoned Seaweed Brand 'Dongwon Yangban Gim' Also Raises Prices by 15%

Dongwon F&B to Raise Prices from Next Month 1
Applies to Large Marts, Convenience Stores, and Online
Raw Material Seaweed Prices Double Compared to Last Year

Dongwon F&B, the No. 1 company in the seasoned seaweed market, will raise the prices of all Yangban Gim products by an average of about 15% starting next month on the 1st.

Dongwon Yangban Gim
Photo by Dongwon F&B

According to Dongwon F&B on the 24th, the price of the main item, 'Yangban Perilla Oil Gim (20 packs for table use),' will increase by 15.8% from the current 9,480 won to 10,980 won starting next month, and 'Yangban Sesame Oil Gim (9 packs for table use)' will rise by 14.6% from 4,780 won to 5,480 won. The new prices will apply across all channels, including large supermarkets, convenience stores, and online.

A Dongwon F&B official said, "It was unavoidable to decide on a price increase due to the difficulty in enduring profitability deterioration caused by the sharp rise in raw seaweed prices." The price of raw seaweed, the raw material before processing seasoned seaweed, has doubled compared to the previous year. This is because global crop yields have been poor, reducing supply, while global demand for Gim has increased due to the popularity of K-food.

Earlier, CJ CheilJedang also raised prices of major seasoned seaweed products by 11-30% earlier this month. The prices of 'CJ Bibigo Direct Fire Perilla Oil Gim (5g 20 packs)' and 'CJ Bibigo Direct Fire Sesame Oil Gim (4.5g 20 packs)' were raised by 1,000 won (11%) from 8,980 won to 9,980 won, and 'CJ Myungga Traditional Gim (4g 16 packs)' was increased by 1,600 won (30%) from 5,380 won to 6,980 won. Specialized seaweed companies such as Gwangcheon Gim, Daecheon Gim, and Seonggyeong Food also raised prices of their main products by about 10-30% starting this month.

With poor crop yields in Japan and China, demand for Korean Gim exports has increased, while domestic inventory has decreased to about two-thirds of the average year, causing Gim prices to soar. According to related industries, the wholesale price of dried Gim surged by 80% compared to a year ago last month, exceeding 10,000 won per pack (100 sheets) for the first time. As of the previous day, the wholesale price was 10,700 won, slightly up from 10,440 won a month ago.