At a press conference held at Lotte Hotel Seoul in Jung-gu, Seoul, on the 13th to mark the 40th anniversary of the launch of Shin Ramyun, Nongshim CEO Cho Yong-cheol presents the achievement of KRW 20 trillion in cumulative sales for Shin Ramyun. CEO Cho outlined “Vision 2030,” stating, “By accelerating our penetration of overseas markets, we will leap to become No. 1 in the global instant noodle market by 2030.” Provided by Nongshim
Shin Ramyun, launched in 1986, has become the first product in the domestic instant noodle industry to surpass KRW 20 trillion in cumulative sales and 42.5 billion units in cumulative sales volume. Nongshim has added the new product “Shin Ramyun Rosé” to its lineup and set a goal of accelerating its push into overseas markets to rise to No. 1 in the global instant noodle market by 2030.
CEO Cho Yong-cheol of Nongshim said at a press conference held at Lotte Hotel Seoul in Jung-gu, Seoul, on the 13th, “The spiciness of Shin Ramyun has extended beyond Korea to the world, and by the end of last year it had achieved cumulative sales of KRW 20 trillion based on a single product,” adding, “It is a record built together with consumers around the world over 40 years.” Total cumulative sales volume reached 42.5 billion units. Based on the length of noodles per packet (40 meters), the total Shin Ramyun sold would stretch a distance equivalent to about six round trips between the Earth and the Sun. Approximately 120,000 units were sold per hour, or about 34 units per second.
About 40% of Shin Ramyun’s cumulative sales have come from overseas. Beginning with the establishment of its Tokyo office in Japan in 1981, Nongshim has built overseas production bases in China and the United States and, this year, launched a Russian subsidiary, steadily expanding its global network. As a result, Shin Ramyun is now sold in more than 100 countries worldwide, with North America, China, and Japan accounting for half of overseas sales as of last year. In 2020, Shin Ramyun Black ranked first in The New York Times’ list of the “world’s best instant noodles,” beating out Japan’s Nissin, regarded as the pioneer of instant noodles.
CEO Cho again highlighted “Vision 2030,” which the company declared last year to mark its 60th anniversary. He stated, “By increasing the proportion of overseas sales to more than 60%, we aim to achieve KRW 7.3 trillion in sales and secure a 10% operating profit margin by 2030, thereby leaping to become ‘Global No. 1’.” This plan calls for more than doubling last year’s consolidated sales at Nongshim (KRW 3.5143 trillion). According to global data analytics firm Euromonitor, Nongshim ranked fifth in the global instant noodle market last year, following Tingyi (Cayman Islands) Holding Corporation, Nissin Foods (Japan), Toyo Suisan (Japan), and Indofood (Indonesia).
Nongshim will simultaneously launch “Shin Ramyun Rosé,” a new product commemorating the 40th anniversary of Shin Ramyun, in Korea and Japan on the 18th. Shin Ramyun Rosé combines the spiciness of the original Shin Ramyun with gochujang, tomato, and cream. The company plans to begin full-scale local production and exports overseas starting next month. CEO Cho said, “These days, forty is the most dynamic age of youth,” adding, “Going forward, Shin Ramyun will continue to grow as a brand representing Korea’s spicy taste and as a core K-food brand leading global food culture.”
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