The World's National Food 'K-Ramen'... In the US, It's 'Shin Ramyun', in Indonesia 'Buldak Bokkeummyeon', and in Russia 'Dosirak'

Rapid Increase in Ramen Export Value... Frontline of K-Food
Nongshim and Other Companies' Overseas Businesses 'Thriving'

[Asia Economy Reporter Lee Seon-ae] 'Shin Ramyun', 'Buldak Bokkeummyeon', and 'Dosirak' are the three major domestic ramen brands that have captivated global tastes and elevated the status of K-ramen (ramen Korean Wave). 'Shin Ramyun Black' received high praise as the 'world's best ramen' in the United States, 'Buldak Bokkeummyeon' has become a 'must-eat food' in Southeast Asia, and 'Dosirak' has earned the title of 'national ramen' in Russia. Thanks to these brands, ramen has played a key role in increasing Korean food exports and is leading the K-food (Korean food wave) trend.

According to export-import trade statistics from the Korea Customs Service on the 7th, ramen exports by weight increased every year: 55,038 tons in 2015, 79,585 tons in 2016, 110,115 tons in 2017, 115,976 tons in 2018, and 137,284 tons in 2019. The export growth rate of ramen from 2015 to 2019 reached an impressive 2.74 times. Export value also rose from $218.799 million in 2015 to $290.366 million in 2016, $380.991 million in 2017, $413.094 million in 2018, and $466.996 million in 2019, more than doubling in four years.

Last year’s country-specific statistics show China leading with 41,537 tons exported, followed by the United States with 14,908 tons, Japan with 9,638 tons, and Australia with 6,147 tons. Southeast Asian countries such as Indonesia (5,988 tons), Taiwan (5,962 tons), Vietnam (5,669 tons), Thailand (5,170 tons), the Philippines (4,251 tons), and Malaysia (4,222 tons) also ranked within the top 10.

This year, ramen exports have surged explosively. According to the Ministry of Agriculture, Food and Rural Affairs’ cumulative data from January to August, ramen export value reached $405.4 million, a 36.7% increase compared to the same period last year. Major export destinations such as the United States (56.7%), Japan (48.9%), and China (44.9%) showed high growth rates. The cumulative ramen export value this year accounts for 8.4% of total agricultural food exports, playing a leading role in the growth of Korean food exports.

An official from the Ministry of Agriculture, Food and Rural Affairs explained, "Due to the prolonged COVID-19 pandemic, ramen, which can be stored for a long time and easily consumed at home, has gained popularity, leading to a significant increase in exports to major countries such as the United States, Japan, and China." They added, "Ramen exports are driving the growth of agricultural food exports this year."

Domestic ramen companies’ overseas business performance is also showing a clear upward trend, with Nongshim, the top company, posting overwhelming results. Nongshim’s overseas business sales increased from $645 million in 2017 to $760 million in 2018 and $800 million in 2019. In the first half of this year alone, sales reached $520 million, achieving 65% of last year’s total sales in just six months ? the highest overseas sales ever. Nongshim operates local subsidiaries in the United States, China, Japan, Australia, and Vietnam, so its overseas business sales combine both the volume exported from Korea and the volume produced directly by its overseas subsidiaries. Sales in the key markets of the United States and China grew by 29.8%, attributed to operating factories locally and selling locally manufactured products. The sales growth rate for 98 countries importing products made in Korea was recorded at 34.7%.

Companies also smiled in the domestic market. Until last year, ramen companies faced limitations in the domestic market. The overall market shrank due to several years of economic downturn, and the rise of alternative foods such as home meal replacements (HMR) kept the domestic ramen market size stagnant at around 2 trillion won. However, as ramen emerged as part of the K-food wave and gained popularity due to COVID-19, the domestic ramen market size in the first half of this year increased by 7.2% compared to the same period last year, reaching 1.13 trillion won (according to Nielsen Korea). This is the highest half-year figure ever recorded. This sudden growth once again proved ramen’s characteristic as a 'food strong in crisis.'

The performance of ramen companies also brought broad smiles. Nongshim recorded sales of 1.3557 trillion won and operating profit of 105 billion won in the first half of this year, increasing 17.2% and 164% respectively compared to the same period last year. Ottogi also posted sales of 1.2864 trillion won and operating profit of 110.1 billion won in the first half, up 10.5% and 21.3% respectively year-on-year. Samyang Foods achieved sales of 330.5 billion won and operating profit of 56.2 billion won, increasing 32% and 55.7% respectively compared to the same period last year.

This content was produced with the assistance of AI translation services.