Nongshim's North American Sales Grow 23% Due to Shin Ramyun Popularity... "Record High Performance"

[Asia Economy Reporter Eunmo Koo] Nongshim announced on the 30th that it expects record-high performance this year in the North American region (U.S. and Canada subsidiaries), with estimated sales of $486 million, a 23% increase from last year.

Nongshim analyzed that the brand competitiveness of Shin Ramyun, which has established itself as a popular meal choice among Americans, is increasing, and the operation of the second local factory has boosted supply volume, accelerating growth.

The foundation for Nongshim's significant growth in the North American market this year is the U.S. second factory, which began operations in April. Considering the growth trend in the U.S. market, Nongshim had been pushing for the establishment of the second factory. In fact, last year, the production capacity of the first factory reached saturation, causing supply to fall short of demand, and products were supplied by exporting from Korea. Nongshim's U.S. second factory is equipped with one high-speed line for bagged noodles and two for cup noodles, becoming a mass production base for products like Shin Ramyun, which had previously faced supply shortages, driving growth.

The representative product leading growth in the North American market this year was undoubtedly Shin Ramyun. Sales of Shin Ramyun (bagged) are expected to reach $83 million, a 36% increase compared to the previous year. Additionally, Yukgaejang Sabalmyeon and Shin Ramyun Black (bagged) also contributed to overall market growth with sales increases of 37% and 20%, respectively, compared to last year.

A Nongshim official explained, "These are the top 5 best-selling popular products," adding, "Thanks to the operation of the second factory, sales volume increased significantly, driving the overall growth of the subsidiary."