Nongshim is accelerating its global business, following the establishment of its European subsidiary last year with the launch of a Russian subsidiary this year.

Nongshim announced on the 8th that it will establish a local sales subsidiary, “Nongshim Russia,” in Moscow, Russia, in June. Nongshim is adding another overseas subsidiary just one year and three months after setting up its European unit in the Netherlands in March last year.

Nongshim has set a goal of targeting the rapidly growing Russian instant noodle market while at the same time establishing a Eurasian base covering Eastern Europe and the Commonwealth of Independent States (CIS) region as a whole. According to global market research firm Euromonitor, the Russian instant noodle market is projected to grow at an annual average rate in the 10% range from 2021 to 2030, expanding to USD 1.05 billion (about KRW 1.54 trillion).

Driven by the popularity of K-culture, demand for Korean instant noodles in Russia is also increasing. Last year, Russia’s imports of Korean instant noodles reached USD 52 million, up 58% from the previous year. Paldo’s Dosirak brand holds around 60% of the Russian cup noodle market and enjoys significant popularity. Nongshim plans to differentiate itself from the mainstream mid- to low-priced products in the Russian instant noodle market and focus on a premium lineup priced at KRW 200 rubles (about KRW 3,800) or higher per unit.

Through the new subsidiary, Nongshim intends to first target the western region, where more than 70% of Russia’s economic power is concentrated, and then expand its reach to the central and Far Eastern regions via local partners. Export products will be manufactured at the “Noksan export-only plant” in Busan, scheduled for completion in the second half of this year (July–December). Nongshim plans to increase supplies not only of Shin Ramyun but also of Neoguri and Kimchi Ramyun, which are popular locally, and to swiftly introduce trendy new products such as Shin Ramyun Tumba and Shin Ramyun Kimchi Fried Noodles to the local market.

Popular News