Nongshim’s first quarter sales reach KRW 400 billion, a 20% increase.
Samyang is expected to achieve KRW 2 trillion in sales this year.
Driven by the boom in K-culture and food, overseas sales of K-ramen, combining exports and locally produced sales, are expected to reach KRW 5 trillion for the first time this year. In particular, its popularity has grown even more this year, with major companies’ overseas sales increasing by 10~38%, compared to the same period last year.
According to the Ministry of Agriculture, Food and Rural Affairs, K-ramen exports in the first half of this year reached US$ 935.39 million (approximately KRW 1.3861 trillion), surging by about 28% compared to the same period last year.
Nongshim’s overseas sales in the first quarter of this year reached KRW 415.1 billion, showing a 19.9% increase compared to the same period last year. The industry estimates that it likely achieved around KRW 900 billion in the first half. Compared to Nongshim’s 7.3% growth rate in overseas sales last year, its growth pace has accelerated this year. Nongshim, which currently has domestic facilities capable of producing 700 million units annually, will be able to produce 1.2 billion units per year once its Noksan plant in Busan is completed in October. There are forecasts that overseas sales could surpass KRW 2 trillion next year.
Meanwhile, Samyang Foods is expected to easily surpass KRW 2 trillion in exports this year. Having recorded KRW 1.8838 trillion in exports last year, Samyang Foods posted exports of KRW 585 billion in the first quarter of this year alone, marking a 38% surge year-on-year. Especially now, even though the company currently exports its entire output, once the factory under construction in Zhejiang Province in China is completed, it will establish a system capable of producing and selling up to 840 million units of Buldak Spicy Ramen annually overseas.
Paldo, which enjoys immense popularity in Russia with its Dosirak ramen, recorded annual overseas sales of KRW 717.7 billion. The company is showing strong performance, with ramen exports growing by 14.2% in the first half of this year, thanks to the expansion of sales channels in 10 Latin American countries and increased global sales of Dosirak products. It is also considered highly likely that annual overseas sales will surpass KRW 1 trillion within two to three years.
Ottogi, which is building a factory in the United States, also recorded KRW 65 billion in overseas sales in the first half of this year, marking a 10% increase in sales compared to the same period last year. The company has also decided to build a new ramen factory for export in Gumi, and considering that its U.S. factory is scheduled to be completed by the end of next year, it is expected that sales will expand.
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