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Industry

Lotte Wellfood, Binggrae and Orion join price cuts as moves spread to snacks, ice cream and packaged bread

South Korean makers of confectionery, ice cream and packaged bread are cutting prices on some products as part of an effort to support the government’s price-stability drive. Lotte Wellfood, Haitai Confectionery and Orion will lower prices on 10 confectionery items by an average 2.9 to 5.6 percent. Lotte Wellfood and Binggrae will cut prices on eight ice cream products, while Lotte Wellfood and Samlip will lower prices on packaged bread.

Industry

Binggrae to cut ice cream prices by 8.2 percent on average

Binggrae said on March 19 it will cut factory-gate prices for its ice cream products. The items include Linky Bar, Guseul Polapo Kiwi & Pineapple, Royal Cookie Sand Peanut Butter, two Milky Fruit products, two Low Sugar Day products and Nyam. The factory-gate prices for the covered products will fall by an average of 8.2 percent. The changes will take effect from April 1.