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Sweet treats may cost less to eat in April, as companies align with government price stability plan

Published: 19 Mar. 2026, 13:03 Updated: 19 Mar. 2026, 14:39

A shopper picks up a confectionary product at a large supermarket in Seoul on March 12. [NEWS1]

Major bakery, ice cream and confectionary companies plan to cut prices next month to take part in the government's initiative to stabilize consumer costs, the agriculture ministry said Thursday.

The plan was announced at an interagency task force meeting aimed at stabilizing prices of goods in the retail sector, presided over by Vice Agriculture Minister Kim Jong-gu.

According to the ministry, a total of five companies decided to cut the prices of 19 confectionary, bakery and ice cream products by between 100 won to 400 won (6 to 26 cents), or up to 13.4 percent, starting April.

Participating companies include confectionary giant Lotte Wellfood, ice cream producer Binggrae and pastry maker SPC Samlip, under local food giant SPC Group.

Previously, domestic sugar and flour producers lowered prices by 5 percent following a criminal investigation into alleged industry collusion.

Other food product makers, including CJ Cheiljedang, have also announced price cuts amid the government's pressure on the industry to participate in its initiative to respond to inflationary pressures.

Yonhap