"Shin Dong-won, Chairman of Nongshim Group, Raises the Flag of 'New Nongshim'... 'We Will Become a Company That Brings Joy to Customers'"

'New Nongsim' Through Change and Innovation Goal
Company Slogan Changed to 'Taste Life Deliciously, Nongsim'
Strengthening New Businesses Like Alternative Meat and Supporting Startups
"Let's Grow Vigorously Like Startups"

Shin Dong-won, Chairman of Nongshim (Photo by Nongshim)

[Asia Economy Reporter Seungjin Lee] Nongshim Vice Chairman Shin Dong-won has been appointed as the group chairman.

On the 1st, Nongshim announced that the agenda for the appointment of the chairman was unanimously approved by the board of directors at an extraordinary board meeting. Nongshim stated that it will create a "New Nongshim through change and innovation" centered on Chairman Shin Dong-won.

In his inauguration message, Chairman Shin emphasized "We must level up the value of ramen in a way that provides greater satisfaction and enjoyment to customers," highlighting not only external growth such as "fulfilling social roles through internal change" and "leveling up domestic and overseas businesses," but also "better growth together with the people."

"Customer Value First"

Upon his inauguration, Chairman Shin changed the corporate slogan to "Taste Life Deliciously, Nongshim." While maintaining the philosophy of trusted quality, taste, and food safety, this reflects the intention to approach customers more familiarly as a partner sharing joys and sorrows. He plans to strengthen management activities that positively impact customers' overall lives through food. In line with this, Nongshim will establish a dedicated organization to strengthen ESG (Environment, Social, Governance) management.

Chairman Shin emphasized, "Creating a more horizontal corporate culture and digital-based work innovation must also be carried out to maximize customer value," adding, "We will strengthen corporate management activities that meet the expectations of customers and employees."

"Ramen Must Become a New Food Culture"

Alongside ESG management, the second key phrase he presented as his inaugural message was "redefining ramen." Chairman Shin stated, "Beyond satisfying consumers with premium products, ramen needs to evolve into a new food culture." Reflecting market conditions such as the increase in single-person households and elderly populations, Nongshim is developing products that cater to new tastes, including those of the MZ (Millennial + Generation Z) generation.

Based on the technology and know-how gained in the food industry, product category expansion is also anticipated. Nongshim plans to actively seek opportunities to enter new businesses through its existing capabilities such as collagen and health functional foods, alternative meat, and support for internal and external startups.

"Reorganize Production and Marketing to World Top Class"

Efforts to target overseas markets are also expected to accelerate. Chairman Shin said, "We should not be satisfied with our current position as the 5th largest global ramen company in overseas markets," urging, "Please reorganize production and marketing systems to world top-class standards."

Nongshim is preparing to complete its second factory in the United States by the end of the year. The second factory will initially install one line for bagged noodles and two lines for cup noodles. All are high-speed production lines capable of producing about 350 million more ramen annually. Combined with the production volume of the existing first factory, the total annual production will reach 850 million units.

They will also focus on expanding export volumes through the expansion of domestic production facilities. The Gumi and Anseong factories have already completed expansions, and the Anyang factory's facilities will be expanded by next year. Nongshim plans to further increase the overseas sales ratio, which is currently in the 30% range, through increased production.

Chairman Shin also encouraged employees to embrace a startup spirit. He said, "In 1965, Nongshim was a startup," and added, "Let all employees become young blood and grow actively like a startup."

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