S.Korean ramen's exports reach new heights amid K-content boom

Riding the wave of the K-content craze, South Korean ramen's overseas status is soaring. In the first quarter of this year, the ramen export value exceeded $200 million for the first time in history.

Considering that ramen produced in overseas factories is not included in the export count, it is expected that the overseas sales of K-ramen will far exceed $200 million.

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) and the Customs Service, the preliminary export value of ramen in the first quarter was $280 million.

This marks the first time since Korean ramen exports began in 1969 that the export value has exceeded $200 million. The export value for the first quarter is 14.3% higher than the previous record of $181.93 million set last year.

K-ramen exports have been steadily increasing since 2015. After breaking the $100 million export mark for the first time in the first quarter of 2018, it took just five years to break the $200 million barrier.

In the food industry, it is believed that the overseas expansion of ramen has naturally accelerated as Korean dramas and movies, which are popular overseas, often feature Korean ramen. A prime example is "Ram-don (Chapaguri)", a combination of Nongshim Co.'s Chapagetti and Neoguri, which appeared in Bong Joon-ho's film Parasite.

As the demand for K-ramen from overseas consumers increases, Korean ramen companies' overseas investments are also growing. Nongshim, the market leader in domestic ramen, recently announced plans to build its third factory in the eastern US.

Nongshim currently operates two factories in the western US and is considering expanding production lines due to rapid growth in the North American market.

Samyang Foods Co., which has been leading K-ramen exports with its "Buldak Bokkeum Myun," a hot chicken flavor ramen, recently invested 3.4 billion won ($2.57 million) to establish a corporation in Indonesia.

This is the company's fourth overseas corporation, following Japan, the US and China. With the launch of the export forward base in Miryang factory in South Gyeongsang Province last year, the growth of exports is on an upward trend.

Write to Jiyoon Yang at yang@hankyung.com