Korean ramen surpasses $100 million in monthly exports for first time

Korean instant ramen, commonly known as "K-Ramen," has surpassed the $100 million mark for the first time in monthly exports, reaching a record high.
According to import and export trade statistics released by the Korea Customs Service on the 19th, the export value of K-Ramen last month was 1
This marks a significant increase of 46.8% from $73.95 million in the same period last year, the highest increase since May 2022.
Ramen exports have been increasing for nine consecutive years since 2015. In 2019, before the COVID-19 pandemic, the export value was $467 million.
In comparison, it has grown almost twice as much in just four years. In 2020, due to the impact of COVID-19, ramen exports surged by 29.2%, and will continue to grow by 11.7% in 2021 and 13.5% in 2022.
%, maintaining double-digit growth. Last year's export growth rate expanded to 24.4%. The mainstay of K-ramen exports these days is Samyang Foods' Buluda Bokkeum Myeon (fried noodles). The company exported 100,000 units of its ramen this year.
The company announced on the 16th that it recorded sales of 385.7 billion won (approximately 44.3 billion yen) and operating profit of 80.1 billion won (approximately 9.2 billion yen) in the first quarter (January to March). This is a 57% increase in sales compared to the same period last year.
This means that operating profits increased by 235%. In particular, the popularity of "Carbob Ludak" increased, and overseas sales increased by 85%. Overseas sales accounted for 75% of total sales in the first quarter.
The increase in demand for K-ramen overseas is said to be largely due to the COVID-19 outbreak and the Korean Wave.
The popularity of pop, TV series, and movies has boosted the recognition of Korean ramen. A Samyang Foods official said, "Marketing and sales management costs are lower in overseas markets than in the domestic market.
"The increased production at our Miryang plant in South Gyeongsang Province has enabled us to achieve 'economies of scale' that have reduced costs, and profitability has improved amid the continuing depreciation of the won," he said.
In addition to K-Ramen, known as the "red semiconductor," Korean seaweed, also known as the "black semiconductor," recorded its highest export value ever last year.