K-Ramen Export Vol. Highest Ever...Samyang Foods, A New 52-week Reported Price High
K-Ramen Export Vol. Highest Ever...Samyang Foods, A New 52-week Reported Price High
  • BK Min
  • 승인 2024.05.08 13:50
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K-Ramen's three major companies (Nongshim, Samyang Foods, and Ottogi) sales and operating profits in the first quarter of this year increased significantly compared to the previous year.

Among these, the export amount of K-Ramen reached an all-time high, and the performance outlook of the three ramen companies, including Samyang Foods, Nongshim, and Ottogi, also received a green light. Samyang Foods recorded the most notable sales growth this year.

Buldak Bokkeum Ramen's first-quarter sales increased by 31.43% from a year ago to KRW 322.8 billion. During the same period, operating profit was 41.7 billion won, a record 74.86%. Although it slowed down somewhat in the domestic market, it achieved results that exceeded expectations overseas, including in G2 countries such as China and the United States.

The popularity of Buldak Bokkeum Ramen in Japan is increasing every year.

According to Samyang Japan, the Japanese subsidiary of Samyang Foods, the growth rate of Buldak Bokkeum Ramen is more than 25% every year. The Japanese Food News reported on the 7th that "Samyang Foods is actively pioneering overseas markets with its 'spicy taste' brand, and Samyang Japan is also continuing its rapid growth every year." 

Samyang Foods' stock price also rose to 315,500 won on the 7th, breaking its 52-week record high due to strong exports of Buldak-bokkeum Ramens.

An official from Samyang Foods said, "Brisk exports and the growth of major affiliates, including overseas corporations, drove the second quarter performance," and added, "We will expand investment in line with the company's growth."

Nongshim's first-quarter sales were KRW 903 billion, up 4.95% from the previous year. Ramen demand in Europe and Southeast Asia drove this increase.

Ottogi's first-quarter sales were KRW 896.3 billion, up 4.61% from the previous year. Last year, Ottogi recorded its highest-ever sales (KRW 3.4545 trillion). Operating profit grew by 2.19% to 66.8 billion won.

The government and consumer groups around the food industry are critical of the food industry. 

"The company's management performance was high, including record-high performance and renewed reported prices, but the actions of companies that have already raised or are planning to increase product prices due to rising costs and overall costs have not taken the public's attention."

The link to the Korean version of this article is as below.

▷K-라면 1Q 매출 호조, 곡물가↘물가·환율↗...삼양식품 52주 신고가 갱신



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