Korea's Top Noodle Maker In Hot Water
Reuters, Monday, June 27, 2011 9:45 AM
Korea's fair trade officials have hit top South Korean noodle maker Nongshim Co. Ltd. with a steep fine for exaggerating the nutritional value of a new brand of instant noodles. The company said the Shin Ramyun Black brand, launched to commemorate its 25th year in business, was "close to a perfect food." Trade officials fined the company 155 million won ($143,670) for making that claim.
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"This was exposed as not true at all. The company said one thing and means another," said Lim Sung-chan, spokesman for the Fair Trade Commission, in an interview with Reuters. The Shin Ramyun Black retails for 1,400 to 1,700 won, whereas most other instant noodles sell for around 563 won.
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