Nongshim sees record-high Shin Ramyun sales

South Korean food and beverage giant Nongshim Co. announced on Wednesday that its signature instant noodle brand Shin Ramyun saw a record high of 1.21 trillion won ($903 million) in sales last year, a 14% increase year over year.

Shin Ramyun’s sales has surpassed the 1 trillion won for the second consecutive year.

In 2021, overseas sales exceeded domestic sales and overseas revenue reached 710 billion won, accounting for 59% of total sales.

Nongshim plans to continue expanding its presence in international markets, focusing on the US, and strengthening its marketing as the leading ramen for every aspect of daily life in South Korea.

The US subsidiary's Shin Ramyun sales increased by 19%, accounting for nearly half of the overall growth in international sales.

The Nongshim's second factory in the US which was completed in May 2022 played a significant role in this growth, increasing supply and driving substantial sales through major US retailers like Costco and Walmart.

Sales of Shin Ramyun also increased in Japan, Australia, and Vietnam, with increases of 19%, 26%, and 58% respectively.

The Japanese subsidiary expanded its sales of Shin Ramyun cup noodles through convenience stores, with  Shin Ramyun Stir Fry noodles receiving particularly positive responses.

The Australian subsidiary expanded its presence in major local retail channels and operated a Shin Ramyun pop-up store in Sydney.

The Vietnamese subsidiary implemented effective sales strategies tailored to key metropolitan and tourist areas such as Hanoi and Ho Chi Minh, alongside promotional efforts through online and flagship stores.

Domestic sales of Shin Ramyun reached 500 billion won, a 14% increase from the previous year, attributed to the rising demand for relatively affordable ramen amidst ongoing high prices.

Write to Sul-Li Jun at sljun@hankyung.com