[Featured Stock] Samyang Foods' Stock Rises Over 13% on Strong Exports of 'Buldak Bokkeummyeon' Ramen

On the 4th, Samyang Foods showed a rise of over 10% in the stock market due to strong ramen exports.

[Image source=Yonhap News]

As of 1:30 PM on the same day, Samyang Foods was trading at 589,000 KRW, up 13.46% from the closing price last weekend. This is the first time since June 3rd that the stock price has risen more than 10% in a single day.

Since the beginning of this year, Samyang Foods' stock price surged from the 170,000 KRW range to 718,000 KRW in June, driven by a sharp increase in exports of Buldak Bokkeum Myun. Afterward, the price adjusted down to the 400,000 KRW range due to price concerns, but recently it has bottomed out and is showing signs of a rebound.

The Ministry of Agriculture, Food and Rural Affairs announced that from January to October, Korea's ramen export value reached 1.02 billion USD (approximately 1.4 trillion KRW), a 30% increase compared to the previous year. Samyang Foods accounted for 270.1 billion KRW, more than half of the 430.1 billion KRW export value in the third quarter.

Researcher Kwon Woo-jung of Kyobo Securities stated, "Samyang Foods has expanded its export regions to Asia, the United States, and Europe, resulting in a prolonged shortage of supply," and added, "Once the factory expansion is completed next year, the company will increase ramen production to meet growing demand and show rapid growth."