[Asia Economy Reporter Lee Seon-ae] This year, ramen export value is expected to reach about 600 million dollars, marking an all-time high.
This is due to the surge in sales as Korean ramen gained attention as emergency food in the global market amid the COVID-19 pandemic.
According to the Korea Customs Service and the food industry on the 21st, ramen export value from January to November this year was 549.72 million dollars, a 28.4% increase compared to the same period last year. It has already surpassed last year's total export value (467 million dollars).
By country, China accounted for the largest share with 138.56 million dollars, or 25.2% of the total, followed by the United States (72.84 million dollars), Japan (44.98 million dollars), Thailand (24.66 million dollars), and the Philippines (22.37 million dollars).
Annual ramen export value increased from 290 million dollars in 2016 to 380 million dollars in 2017, 410 million dollars in 2018, and 470 million dollars last year.
If this month's export value maintains the level of last month, this year's ramen export value is expected to surpass 500 million dollars at once and approach 600 million dollars.
Considering food companies producing and selling directly at overseas factories, the scale of Korean ramen consumed abroad is much larger.
In the case of Nongshim, it has factories in China and the United States producing and selling Shin Ramyun, Neoguri, Chapagetti, Yukgaejang Bowl Noodles, and others. Especially, Nongshim greatly benefited from the promotional effect of 'Chapaghetti + Neoguri' called 'Chapaguri' featured in the movie 'Parasite' this year.
A Nongshim official explained, "Since exports are made domestically, ramen sales are generated in China and the United States respectively," adding, "Considering overseas subsidiary sales, the ramen export scale is even larger."
Paldo also sells ramen through local subsidiaries in Russia and Vietnam, whose sales from the first to third quarters this year were 168.5 billion won and 26.3 billion won respectively, greatly exceeding the pure domestic total export amount (89.6 billion won).
Paldo's cup ramen 'Dosirak' has gained tremendous popularity in Russia, capturing over 60% of the entire cup ramen market share.
Samyang Foods exports ramen produced entirely in Korea without overseas factories.
Samyang Foods' export value from the first to third quarters this year was 286.4 billion won, already surpassing last year's total export value (272.7 billion won), and greatly exceeding domestic sales (211.1 billion won). In particular, exports of Samyang Foods' hit product 'Buldak Bokkeum Myun' related ramen and convenience foods accounted for 246 billion won up to the third quarter this year, making up 85.9% of total exports.
Ottogi, which mainly produces domestically and exports, saw its ramen export value increase by 20-30% compared to the same period last year.
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