#701, Seoul YWCA, 1-1, Myeongdong 1-ga, Jung-gu, Seoul  (Postal code: 100-021)

    

Press Release Date of Release: April 24, 2008 Phone : 02-774-4050 / Fax: 02-774-4090 Contact: Lee Jeong-su, Secretary General Lee Eun-ji, organizer     The Price of Flour Has Risen By 24.4% (KRW 728) Compared with Last Year   The Korea National Council of Consumer Organizations (Chairperson Kim Cheon-ju) started surveying the prices of consumer goods in Seoul on March 1, 2008. The purposes of this survey are to check if the current price hike is appropriate, raise questions about price rises, and protect customers’ options and satisfy customer’s right to know by providing accurate price information. In this survey, eight member organizations under the Korea National Council of Consumer Organizations surveyed a total of 300 shops including 12 large discount chains in 25 districts of Seoul (E-Mart, Lotte Mart, Home Plus, Home Ever, Hanaro Mart), department stores, large supermarkets and conventional markets. From April 14 to 15, the prices of six items (ramen, sugar, flour, cooking oil, detergent, cosmetic tissue) were checked and compared with the results obtained from the survey conducted in December 2007.   According to the findings of the survey, flour sustained the highest price increase of 24.4%, rising from KRW 2,989 last December to KRW 3,717 in April 2008. For other products, the price of ramen increased from KRW 530 to KRW 616 (△16.3%), the price of sugar from KRW 3,304 to KRW 3,365 (△1.8%), that of cooking oil from KRW 4,117 to KRW 4,600 (△11.7%), and that of cosmetic tissue from KRW 5,058 to KRW 5,121 (△1.2%). Though the prices of most consumer goods went up, on April 21 Donga Flour Mills increased the prices of its all flour products by 20% on average; Daehan Flour Mills is considering an increase in its prices. As other companies such as CJ plan to increase prices, the Korea National Council of Consumer Organizations called for them to disclose the calculation data for these price increases. Based on such data, the Korea National Council of Consumer Organizations will decide whether the price increases are appropriate and provide consumers with the correct information. The price fluctuation of each product is shown in the table.  『Average Price Fluctuation』 (Unit: KRW, %)   Product Price (Average) Fluctuation Rate in April Dec. 2007 Mar. 17 Apr. 14 To Dec. 2007 To Mar. Ramen  Sin Ramen 530   613   616   ▲16.3   ▲0.5    Samyang Ramen   573   600     ▲4.6    Jin Ramen   540   579     ▲7.3   Sugar  CJ 3kg 3,304   3,382   3,365   ▲1.8   ▽0.5   2.722kg   2,902   2,814     ▽3.0   Samyangsa Q.one 3kg   3,175   3,143     ▽1.0   2.722kg   3,040   3,120     ▲2.6   Flour  CJ 1kg   1,596   1,578     ▽1.1   2.5kg 2,989   3,753   3,717   ▲24.4   ▽1.0   Daehan Flour Mills  Gompyo 1kg   1,535   1,533     ▽0.2   2.5kg   3,636   3,652     ▲0.4   Cooking Oil  Baekseol 4,117   4,453   4,600   ▲11.7   ▲3.3    Haepyo   4,421   4,437     ▲0.4   Detergent  Super Tide 3kg   6,333   6,233     ▽1.6   5kg   8,898   8,343     ▽6.2    Spark 3kg   6,703   6,513     ▽2.8   5.5kg   9,302   9,523     ▲2.4    Bit 3kg   7,724   8,208     ▲6.3   3.2kg   11,960   11,286     ▽5.6   Cosmetic Tissue  Kleenex  (Yuhan Kimberly) 5,058   5,248   5,229   ▲1.2   ▽0.4     Codi  (Ssang Yong Pape 4,413   4,499   ▲2.0    Kkaekkeuthan-nara  (Daehan Pulp) 5,334   5,414   ▲1.5     ■ References ※ Survey Schedule  Schedule  Content March 1～2 1st Price Survey March 17～18 2nd Price Survey March 31～April 1 3rd Price Survey April 14～15 4th Price Survey April 28~ 29 5th Price Survey May 12～13 6th Price Survey May 26～27 7th Price Survey   ※ Surveyed Items The prices of six items from two or three brand names were surveyed.   - Ramen : Sin Ramen, Samyang Ramen, Jin Ramen   - Sugar :Baekseol, Q.one   - Flour : Baekseol, Gompyo, Q.one   - Cooking Oil : Baekseol, Haepyo, Q.one   - Detergent : Super Tide, Spark, Bit   - Cosmetic Tissue : Kleenex, Codi, Kkaekkeuthan-nara