Likely Relocation to Central Seoul Areas Such as Gwanghwamun, Jongno, and Euljiro
Significant Increase in Employee Numbers Makes Relocation Inevitable
Headquarters Site Redevelopment Plans Also a Factor
Samyang Foods, which entered its heyday last year by surpassing 1 trillion won in sales for the first time in its 60-year history, is preparing for a new era by planning to relocate its headquarters to the heart of Seoul.
According to industry sources on the 23rd, Samyang Foods is reportedly pursuing a plan to move its current headquarters located in Hawolgok-dong, Seongbuk-gu, Seoul, to the central business district (CBD) of Seoul.
Samyang Foods is known to be reviewing various real estate options in areas such as Gwanghwamun, Jongno, and Euljiro. The headquarters relocation is expected to involve purchasing an existing building rather than constructing a new one. However, since the company is still in the process of examining potential sites and considering practical conditions such as contracts with current tenants, even if a sales contract is signed soon, the relocation is likely to take place not within this year but sometime next year or within the next two to three years at the latest.
The direct background for Samyang Foods’ plan to relocate its headquarters is the company’s rapid growth over the past few years. With “Buldak Bokkeummyeon” (Hot Chicken Flavor Ramen) achieving unprecedented success not only domestically but also in the global market, Samyang Foods experienced rapid business expansion. As a result, key tasks such as expanding overseas sales networks and discovering new businesses increased, naturally leading to a significant increase in the number of employees. Samyang Foods’ aggressive talent recruitment campaign has even led to the term “talent black hole” within the food industry, and there are reports within the company that the experience and qualifications of recently hired employees have greatly improved compared to before.
As the company grew and the number of employees increased significantly, relocating the headquarters became an unavoidable task. The current headquarters in Hawolgok-dong, established in 1997, is a building with six floors above ground and three basement levels, covering a total floor area of 9,600 square meters (㎡), where about 400 employees from Samyang Foods and its affiliates work. Recently, due to the increase in staff, the company has additionally leased an entire five-story building located about 100 meters away from the headquarters. Around 100 employees from Samyang Foods’ domestic sales and affiliated companies work there.
Even without the practical need for more space, the relocation of Samyang Foods’ headquarters was inevitable in the mid to long term. This is because the Hawolgok-dong area, where the headquarters is located, was selected as a target site for Seoul’s rapid integrated planning redevelopment project. However, since the plan is still in its early stages, the company states that the redevelopment plan is not a direct cause of the headquarters relocation.
Meanwhile, last year, Samyang Foods Group officially changed its group name to Samyang Round Square and announced a vision to operate the company centered on two pillars: science and technology-based “Food Care” and culture and arts-based “EATertainment.” Last year, marking the 60th anniversary of the launch of Samyang Ramen, Samyang Foods recorded its highest-ever performance with sales of 1.1929 trillion won and operating profit of 146.8 billion won.
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