Nongshim enjoys the biggest overseas sales of $760 million, up 18%
Nongshim enjoys the biggest overseas sales of $760 million, up 18%
  • Kim Min-jee
  • 승인 2018.12.18 11:49
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Nongshim is about to achieve its biggest foreign business performance ever. Nongshim said on Dec. 17 that its overseas sales for 2018 are expected to increase 18 percent year-on-year to $760 million, mainly thanks to the high popularity of its major product, "Shin Ramen," in overseas markets.

Nongshim has aggressively marketed large retailers such as Walmart and Costco in the U.S. this year. As a result, its sales in the Main Stream market, called the local main market, has surpassed those in the Asian market.

Main Stream is a major U.S. consumer-oriented market except for minorities such as Asians. The ratio of sales of the Main Stream and Asian markets, which were divided by 5:5 last year, turned to 6:4 this year.

Nongshim chose foreign markets as a breakthrough in the stagnant domestic ramen market. After supplying Shin Ramen to all Walmart stores in the U.S., it increased its sales through major distributors such as Costco and Kroger in earnest. Thanks to this, Nongshim's U.S. business performance increased by 12 percent to $225 million this year.

Its business in China grew 23 percent year-on-year to $280 million. In Japan, it strengthened its sales through convenience stores and carried out marketing activities with its Shin Ramen.

In Australia, its sales have continued to grow by targeting both overseas Korean and local markets. Its sales also skyrocketed in major Southeast Asian countries such as the Philippines and Vietnam through large discount stores and convenience stores.

Nongshim set next year's sales target at $885 million, 16 percent higher than this year's. To this end, it is planning to finish extending production lines of its Los Angeles plant by the end of this month and start operating them on full-scale next year.

"A variety of customers from not only the U.S., but also Canada and South America are looking for Nongshim products. Based on Nongshim's product capability and systemic production distribution system, we are striving to achieve the goal of No. 1 in the U.S. market in the next few years, beating Japan," said Shin Dong-yup, head of the Nongshim's U.S. Corp.

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