Samyang Foods, First in Food Industry to Receive '400 Million Dollar Export Tower' Award

Achieving $400 Million in Exports One Year After Reaching $300 Million

Kim Jung-su, Vice Chairman and CEO of Samyang Foods, is posing for a commemorative photo after receiving the 400 million dollar Export Tower award at the '59th Trade Day' ceremony held at COEX, Samseong-dong on the morning of the 5th.

[Asia Economy Reporter Koo Eun-mo] Samyang Foods achieved $400 million in exports within a year, following $300 million in exports last year.

Samyang Foods announced on the morning of the 5th that it received the 'Export Tower for $400 Million' award for the first time in the food industry at the '59th Trade Day' ceremony held at COEX in Samseong-dong.

This award marks the fourth time, following $100 million in 2017, $200 million in 2018, and $300 million in 2021. Export performance from July last year to June this year recorded $402.95 million, a 31% increase compared to the same period the previous year.

Samyang Foods continues to expand its overseas business by diversifying export countries and strengthening the competitiveness of the Buldak brand. Initially focused on Asian markets during the early export phase, the countries of entry have now expanded to the United States, the Middle East, and Europe. Through partnerships with local companies possessing solid distribution networks and local sales corporations, efficient online and offline sales channels have been established.

Additionally, the Buldak brand product lineup has been diversified with locally customized products such as Habanero Lime Buldak Bokkeummyeon (Americas), Yakisoba Buldak Bokkeummyeon (Asia), and Masala Buldak Bokkeummyeon (Middle East), as well as products like sauces beyond ramen. The company is increasing touchpoints with overseas consumers by serving as the main sponsor for global events such as the London Asian Film Festival and K-pop concerts.

Thanks to the popularity of the Buldak brand, overseas demand continues to steadily increase. Samyang Foods plans to accelerate its global market entry using the Miryang factory, which was completed in May this year, as a base.

Vice Chairman Kim Jung-soo stated, “As a leading Korean food export company, we will take the lead in promoting the excellence of Made-in-Korea products,” and added, “We will continue to take on challenges so that Korean ramen can become a favorite food worldwide.”