Kim Jeong-su, Samyang Vice Chairman, "Will Make Buldak Bokkeum Myeon a 1 Trillion Won Brand"

"We are attempting to achieve 1 trillion KRW in sales for the ‘Buldak Bokkeummyeon’ brand through the Miryang 2nd factory."

Kim Jung-su, Vice Chairman of Samyang Round Square, is explaining the future vision at the 60th anniversary vision declaration ceremony of Samyang Ramen held on the 14th in Jongno-gu, Seoul.

On the 14th, Kim Jeong-su, Vice Chairman of Samyang Round Square, stated at the 60th anniversary vision declaration ceremony of Samyang Ramen held in Ikseon-dong, Jongno-gu, Seoul, that through the establishment of the 2nd factory, Samyang Foods will grow its ‘Buldak Bokkeummyeon’ into a brand with sales of 1 trillion KRW.

On that day, Vice Chairman Kim explained the background of the decision to establish the Miryang 2nd factory, saying, “We planned the Miryang 1st factory starting in 2019 and completed it in May last year. Even though it has been just over a year since completion, the factory’s operating rate has already reached its maximum. Nevertheless, due to the continued rapid increase in demand for Buldak Bokkeummyeon products overseas, we decided to establish the 2nd factory.”

He added, “Once the 2nd factory is operational, it will be an export-specialized factory just like the 1st factory,” and “Through this, we are attempting to achieve 1 trillion KRW in sales for Buldak Bokkeummyeon.” Vice Chairman Kim also mentioned that the Miryang 2nd factory is scheduled to be completed by June 2025.

Earlier, Samyang Foods announced through a public disclosure last month that it would invest 159 billion KRW in new facilities. The plan is to build the 2nd factory in Miryang, equipped with five production lines. This involves constructing additional production facilities within the site of the Miryang factory, which was completed in May last year, marking a large-scale facility investment just one year after the new factory opened.

The decision to build an additional factory just one year after the factory began operations is interpreted as Vice Chairman Kim’s bold decision to solidify the company’s position as an export enterprise, as key products like Buldak Bokkeummyeon continue to perform well in exports. First launched in 2012, Buldak Bokkeummyeon’s exports surpassed domestic sales in 2017, and last year it grew into a brand with overseas sales of 480 billion KRW and combined sales of 610 billion KRW. Currently, the Buldak brand accounts for 67% of Samyang Foods’ total sales and 79% of its overseas sales.

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