"Muktaekkang·Shin Ramyun The Red Special"... Nongshim Q3 Operating Profit Up 103.9% YoY (Comprehensive)

Overseas Business Promoted with Ramen Soars
More Than Half of 55.7 Billion Won Revenue Earned
Over Half of Sales Increase Attributed to New Product Effect

Nongshim announced on the 14th that its consolidated operating profit for the third quarter of this year reached 55.7 billion KRW, a 103.9% increase compared to the same period last year. During the same period, sales rose 5.3% to 855.9 billion KRW, and net profit increased by 76.9% to 50 billion KRW.

Nongshim Meoktaekkang
Photo by Nongshim

More than half of the operating profit was earned through overseas businesses, primarily focused on ramen. Nongshim's overseas subsidiaries in the United States and China generated approximately 20 billion KRW in operating profit, supported by exports from the domestic subsidiary.

Domestically, although prices of some key products such as Shin Ramyun and Saewookkang were reduced in July, the newly launched Meoktaekkang in June became scarce and gained popularity. Additionally, the limited edition Shin Ramyun The Red, released in August, sold over 15 million packs within 80 days, with these new products contributing significantly to the sales rebound.

A Nongshim representative explained, "Compared to the same period last year, about half of the sales increase in the third quarter of this year was achieved by new products launched this year."

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