Nongshim, South Korea's food and beverage company, announced on October 5 that its overseas sales of Shin Ramyun surpassed that of Korea by the third quarter of this year.
The cumulative domestic and overseas sales of Shin Ramyun in the third quarter totaled KRW 690 billion, of which 53.6 percent came from overseas (KRW 370 billion).
It is the result of achieving rapid growth as Korea's leading food brand overseas while maintaining the status of the No. 1 brand in Korea for 30 years.
If the current trend continues, Shin Ramyun is expected to record a total of KRW 93 billion in sales this year, including KRW 500 billion in overseas sales. It was not long before the achievement of a new milestone in annual sales of 1 trillion won.
Nongshim's strategy to enter the global market, "Korean taste is the most global flavor", was the main reason why the spicy Shin Ramyun, loved by Koreans, was able to enjoy greater popularity overseas.
Shin Ramyun, launched in 1986, started exporting in 1987, the following year, and entered the world stage. Since 1971, it has been exporting ramen to the Los Angeles area, expanding its foothold in overseas markets.
Since 2014, Shin Ramyun has been selected as a “Korean luxury product loved by Chinese people” by the People's Daily of China several times since 2014.
In 2017, it has grown into a global food brand sold in over 100 countries around the world, including being the first Korean food to enter all 4,000 Walmart stores in the United States.
Nongshim expects to achieve greater growth by increasing the supply to Mexico and South America as well as the US and Canada when the operation of the second plant in the US starts at the end of the year.
Meanwhile, Shin Ramyun, launched in October 1986, achieved cumulative sales of KRW 15 trillion as of the end of September this year.
