'Buldak Bokkeum Myeon Power' Drives Samyang Foods to Record-High Q1 Results

Sales Reach KRW 714.4 Billion, Up 35% Year-on-Year
Operating Profit Hits KRW 177.1 Billion, Up 32% from Previous Year
Operating Margin Remains Above 20% for Five Consecutive Quarters

Samyang Foods achieved record quarterly sales and operating profit in the first quarter of this year. The ongoing global craze for Buldak Bokkeum Myeon has sustained high demand in international markets, which, combined with increased production capacity and a favorable exchange rate environment, led to significant improvements in both sales and profitability.

On May 13, Samyang Foods announced that its consolidated sales for the first quarter reached KRW 714.4 billion and operating profit was KRW 177.1 billion. Sales increased by 35% and operating profit by 32% compared to the same period last year. Both figures mark the highest quarterly records in the company’s history. The operating profit margin remained above 20% for the fifth consecutive quarter at 24.8%. Despite external uncertainties, overseas demand for the Buldak brand continued, and the expansion of supply as well as the impact of a strong exchange rate contributed to improved profitability, according to Samyang Foods.

Overseas sales rose by 38% year-on-year to KRW 585 billion. Increased supply, enabled by a higher operation rate at the Miryang Plant No. 2, supported rising demand mainly in Europe and the Americas, resulting in a substantial boost in sales.

Sales in Europe saw the highest growth, surging by 215% year-on-year to KRW 77 billion. At the same time, Samyang Foods newly established its UK subsidiary and expanded its presence in major distribution channels in key Western European markets such as Germany and the Netherlands. The company also continued stable growth in its largest export markets, the United States and China. The U.S. subsidiary posted sales of KRW 185 billion, up 37% year-on-year, while the Chinese subsidiary recorded sales of KRW 171 billion, a 36% increase from the previous year.

A representative from Samyang Foods stated, "Despite challenging external conditions, we have once again proven the competitiveness and sustainability of the Buldak brand by achieving strong results. This year, we plan to further solidify our foundation for high growth by strengthening our global management system and expanding our production and sales infrastructure."

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