S. Korea's exports of instant noodles surpass $100m for 1st time in April: data


Last month, South Korea's exports of instant noodles, known as "ramyeon" in Korean, exceeded $100 million for the first time, reaching $108.6 million in April. This marked a significant 46.8 percent increase from the previous year and the fastest growth rate since May 2022, according to data from the Korea Customs Service. The agency noted that this milestone reflects the ongoing upward trend in ramyeon exports since 2015, driven by the rising global interest in Korean culture, including movies, dramas, and music, as well as the high demand for affordable, convenient food options amid inflation. In 2021, ramyeon exports hit a record high of $952 million, representing a 24.4 percent surge from 2020, and the Korea Customs Service anticipates that exports will surpass $1 billion this year. Samyang Foods Co., a prominent South Korean instant noodle manufacturer, experienced a 57 percent year-on-year increase in sales, reaching 385.7 billion won ($284.5 million) in the first quarter. The company attributed this growth to an 85 percent surge in revenue from international markets, particularly driven by the popularity of its carbonara-flavored Buldak Ramen. Overseas sales accounted for 75 percent of Samyang's total sales in the first quarter. In summary, South Korea's ramyeon exports have reached a significant milestone, reflecting the global appeal of Korean food and culture, and are expected to continue growing, with Samyang Foods Co. experiencing substantial sales increases, particularly in international markets.


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