Samyang Foods logo (Samyang Foods)
South Korean instant noodle maker Samyang Foods is opening a branch in China, on the back of the worldwide popularity of its extremely spicy Buldak Ramen.
The company said Tuesday the new office will launch in Shanghai in December, following the foundation of Samyang America in August. The China branch will focus on marketing and distribution of its products on the mainland, it said.
China and the United States are key markets for the company, according to Samyang Foods, accounting for 45 percent and 15 percent of overseas sales, respectively.
Samyang Foods saw its exports grow since 2016 in line with Buldak Ramen’s popularity outside South Korea.
Overseas sales grew an average 41 percent annually from 2016 to 2020, according to the company. The proportion of sales generated outside Korea also grew from 26 percent to 57 percent over the same period.
“Our goal is to increase sales generated from our Japan, America and China branches up to 70 percent of the company’s international sales by 2025,” an official from the company said.
By Kang Jae-eun (firstname.lastname@example.org