SEOUL, KOREA - Nongshim, Korea’s major instant noodle maker, is making forays into Europe. The company announced on February 7 that it has signed a string of instant noodle sales deals with Morrisons, one of the UK's four major retailers, Migros, the largest retailer in Switzerland, and Grab and Fly, an airport chain store in the Netherlands.
Nongshim also closed a sports marketing deal in Europe, first among Korea's food companies, by signing an official sponsorship agreement with AFC Wimbledon, a professional English association football club.
Morrisons is one of the UK's four largest retailers, together with TESCO, ASDA, and Sainsbury. They command a market share of more than 80 percent in the UK retail market.
At present, Nongshim runs its stores in ASDA and plans to complete contracts with TESCO and Sainsbury within this year. Nongshim currently exports more than ten types of ramen to the UK, including its flagship "Shin Ramyun."
The company aims to achieve overseas sales of $570 million this year. By region, Nongshim posted sales of $140 million in the U.S. and $120 million in Europe last year.
enews@hankyung.com
*Article provided by The Korea Economic Daily
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