Samyang Foods to establish European subsidiary in the Netherlands to expand its products such as 'Buluda Bokkeum Myeon' - Korean media

Samyang Foods, a major food company, plans to establish a European subsidiary in North Holland, Netherlands, in August and is currently recruiting staff.
The main business of European corporations is import/export related business, supply chain management (SCM) management, customs procedures.
According to the company, the launch date of the European subsidiary has yet to be decided. The company's flagship product, "LUDA Bokkeum Myeon," is popular in China, the United States, and other countries.
The aim is to expand beyond Southeast Asia to Europe, with the proportion of Europe in the company's total exports expected to increase from 6% in 2019 to 8% in 2020, 11% in 2021, and 13% in 2022.
The growth rate is expected to continue growing, reaching 16% in 2023 and 19% in the January-March period of 2024. The advantage of establishing a local subsidiary is that it allows the company to quickly establish a sales network and carry out marketing activities efficiently.
The Netherlands in particular is a key transportation hub in Europe, located close to major countries such as the UK, France and Germany, making it well suited to building an efficient logistics network covering the European region.
A Samyang Foods official said, "The Netherlands has a well-developed infrastructure in areas such as trade, investment, information and services. We will aim to improve the efficiency of logistics targeting the European region."