Chairman Shin Chun-ho of Nongshim, Creator of the 'Shin Ramyun·Saewookkang Legend,' Passes Away (Comprehensive)

[Asia Economy Reporter Lim Hye-sun] Shin Chun-ho, chairman of Yulchon (栗村) and founder of Nongshim (photo), passed away on the 27th due to an illness. He was 92 years old.

Nongshim announced on the same day, "Chairman Shin passed away at 3:38 a.m. today due to a chronic illness." At the regular shareholders' meeting on the 25th, Chairman Shin's eldest son mentioned that "his health is poor and he is hospitalized."

Earlier in February, Chairman Shin stepped down from the front lines of Nongshim's management after 56 years. Despite his advanced age, he had been coming to the headquarters in Shindaebang-dong, Dongjak-gu, Seoul every day to personally oversee management issues. While detailed management matters were entrusted to his three sons and professional managers, Chairman Shin personally led the group’s strategic direction and core issues such as new business ventures.

Born in Ulsan in 1930, Chairman Shin founded Nongshim in 1965. Since the establishment of Nongshim, Chairman Shin’s steadfast management focusing solely on ‘ramen’ and ‘snacks’ has built a ramen company with annual sales of 2.6 trillion won, ranking fifth in the world. In his autobiography titled "A Fighter with Philosophy is Happy," he introduced himself as "I have made ramen all my life, so I like to call myself a ramen fighter. Since I have also made snacks, I like to call myself a snack fighter."

Chairman Shin was the fifth of ten children (six sons and four daughters) in the Lotte family. He was the younger brother of the late Shin Kyuk-ho, honorary chairman of Lotte Group. At the age of 35 in 1965, he started the ramen business by bringing in a ramen-making machine to Shindaebang-dong, Dongjak-gu, Seoul, with a capital of 5 million won.

The crisis began early in the business. In the early 1970s, Nongshim did not attract attention in the domestic ramen market, which was centered on chicken broth. Chairman Shin turned the tide by betting on ‘beef broth’ instead of chicken broth with ‘Beef Ramen.’ Subsequently, he increased market share by launching products such as ‘Neoguri’ and ‘Yukgaejang Bowl Noodles’ in 1982, ‘Anseongtangmyun’ in 1983, and ‘Chapaghetti’ in 1984.

In the mid-1980s, Chairman Shin embarked on developing ‘Shin Ramyun,’ emphasizing spicy flavor. Despite concerns from those around him about the spiciness, he pushed forward, saying, "The unique spicy taste of Shin Ramyun will bring differentiation to the monotonous ramen market." He personally oversaw everything from product development to naming and packaging design. Shin Ramyun achieved sales of 3 billion won within three months of its launch and has maintained the undisputed number one position in the domestic ramen market for 27 years since 1991. Chairman Shin’s challenge extended to snacks. He entered the snack market and created Korea’s first snack, ‘Saewookkang.’ Following the success of ‘Saewookkang,’ he released hit products such as ‘Yangpokkang’ and ‘Gamjakkang,’ securing the top position in the snack industry as well.

Surviving family members include his wife Kim Nak-yang, eldest daughter Shin Hyun-joo, vice chairman of Nongshim Planning, three sons Shin Dong-won, vice chairman, Shin Dong-yoon, vice chairman of Yulchon Chemical, Shin Dong-ik, vice chairman of Megamart, and second daughter Shin Yoon-kyung.

The funeral will be held at Seoul National University Hospital Funeral Hall, Room 1, with the funeral procession scheduled for 5 a.m. on the 30th.

The burial site is the family graveyard in Miryang, Gyeongnam.

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