Samyang Foods' 'Buldak Bokkeummyeon' Wins $400 Million Export Tower Award... Driving Record High Ramen Exports

Ministry of Agriculture, Food and Rural Affairs, 1st K-Food+ Export Tower Awards Ceremony

Samyang Foods, which led the record-high ramen exports driven by the spicy flavor craze including Buldak Bokkeummyeon, received the grand prize at the 'K-Food+ Export Tower' awards.

On the 19th, the Ministry of Agriculture, Food and Rural Affairs held the 1st K-Food Plus Export Tower Awards ceremony at the aT Center in Yangjae, Seoul.

The K-Food Plus Export Tower, operated for the first time this year, was created to encourage companies that have fostered not only agricultural products but also related industries such as intelligent farms (smart farms), agricultural machinery, fertilizers, pesticides, seeds, veterinary medicines, and pet food as export industries and have worked to expand exports.

The Export Tower awards are divided into Grand Prize, Excellence Award, and Merit Award based on export performance such as billion-dollar and ten-million-dollar levels; Leap Awards for companies with high export growth rates; Market Pioneer Awards for companies actively entering new markets; and Smart Farm Awards for companies contributing to smart farm export activation. A total of 50 companies received awards this year.

Despite difficult conditions such as global high inflation and economic recession, Samyang Foods won the Grand Prize (USD 400 million) for leading the record-high ramen exports with the Buldak Bokkeummyeon craze. Lotte Chilsung Beverage and Hite Jinro received the Grand Prize (USD 100 million) for contributing to the expansion of beverage and liquor exports through active overseas promotions and distribution network expansion. Daedong received the Grand Prize for the USD 500 million export tower due to achievements such as expanding exports of small and medium-sized tractors to the North American market.

Four companies?Hwanggeum Yuja Co., Ltd., Korea Goryeo Ginseng Distribution Corporation, Fresh Easy Co., Ltd., and OSP Co., Ltd.?received Leap Awards for recording high export growth rates with products such as yuja, ginseng, strawberries, and pet food. Four companies?Gibon Co., Ltd., which made the first export of Korean beef to Cambodia; Olgot, which led the activation of frozen gimbap exports; and EagleVet, which achieved results in expanding the animal medicine market?received Market Pioneer Awards.

Additionally, the Smart Farm Awards, given to smart farm companies expanding globally including the Middle East based on excellent technology, were awarded to four companies: Nongshim, Formit, Udeumji Farm, and Planty Farm.

Following the awards ceremony, the 'K-Food Plus Export Expansion Headquarters' meeting was held, attended by major food companies, integrated export organizations by product, representatives of agribusiness companies, and heads of related organizations. Minister of Agriculture, Food and Rural Affairs Jeong Hwang-geun, who presided over the Export Tower awards and the meeting, said, "Despite global high interest rates and economic downturn, our agricultural products and related industries exports are expected to surpass USD 11.2 billion, achieving the highest record ever. We will continue to actively implement support policies from product development to local market entry, including solving difficulties in export sites, market development, and marketing, to ensure continuous export expansion."

Buldak Bokkeum Myun on promotion at a Thai supermarket. (Stock photo)

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