"K-Ramen Popularity Continues" March Ramen Export Value Surpasses $70 Million for the First Time

Published 25 Apr.2022 07:14(KST)

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] Due to the spread of Hallyu and other factors, the popularity of 'K-Ramen' continues, and last month, ramen export value surpassed the $70 million mark for the first time.

According to the Korea Customs Service and the food industry on the 25th, ramen export value in March this year was $71.58 million (approximately 89 billion KRW), a 20.0% increase compared to the same period last year. It rose 35.8% compared to the previous month. This is the first time ramen export value has exceeded $70 million in a month. The previous highest record was $66.66 million in December last year.

Last month's ramen export volume also exceeded 20,000 tons for the first time, reaching 20,119 tons. This represents a 17.2% increase compared to the same month last year and a 35.7% increase compared to the previous month. Last month's ramen export value was 64.3 times the import value ($1.11 million), and the export volume was 132.4 times the import volume (152 tons).

By export country, China was the largest at $19.08 million, followed by the United States ($9.75 million), Japan ($5.71 million), Thailand ($2.9 million), Canada ($2.89 million), the Philippines ($2.57 million), Malaysia ($2.53 million), Hong Kong ($2.26 million), and the Netherlands ($2.2 million). Exports to Russia sharply declined by 58.0% compared to the same month last year, totaling $540,000, and decreased by 59.7% compared to the previous month. Exports to Ukraine were $36,000 in February but dropped to zero last month.

The recent continuous increase in ramen exports appears to be positively influenced by the global popularity of Hallyu, including K-pop, domestic movies, and dramas. In 2020, the film "Parasite" won four awards, including Best Picture, at the U.S. Academy Awards, and last year, the Netflix drama "Squid Game" gained worldwide popularity. Notably, "Parasite" featured 'Jjapaguri' (a combination of Chapagetti and Neoguri ramen by Nongshim), which attracted significant attention abroad. Additionally, Samyang Foods' Buldak Bokkeum Myun series continues to be popular in Southeast Asia and other regions.