Nongshim establishes a European subsidiary to build a business base for targeting the European market.
Nongshim noted on the 17th that it will establish the European subsidiary Nongshim Europe (Nongshim Europe B.V.) in Amsterdam, Netherlands, next month.
The Netherlands has the largest cargo volume port in Europe, the Port of Rotterdam, and boasts excellent rail and land transportation networks linked to the port.
Nongshim has pursued the establishment of a European subsidiary in consideration of the growth and diversity of the European market. The European ramen market is estimated to be about $2 billion as of 2023, especially showing an average annual growth rate of 12% over the past five years (2019 to 2023).
During the same period, sales of Nongshim Europe grew by an average of 25%. Nongshim reported that in 2024, sales are expected to grow by about 40% compared to the previous year, increasing the need for corporate establishment for aggressive market management.
According to Nongshim, the European ramen market has diverse demands for taste, to the extent that the number one brand differs by country.
A Nongshim official said, "Products with various flavors from Nongshim, including Shin Ramyeon and Shin Ramyeon Thumbar, will be effective in targeting the European market," adding that they aim to achieve a sales goal of $300 million by 2030 through a two-track strategy of expanding entry and developing products tailored to local food culture.
To target the European market, Nongshim plans to expand sales of major brands such as Shin Ramyeon in key European distribution channels, including Tesco (United Kingdom), Rewe (Germany), Albert Heijn (Netherlands), and Carrefour (France and across Europe).
They are also reviewing the launch of products tailored to the tastes of consumers in each country in consultation with major retailers. Reflecting the growing interest in K-Food in Europe, they also decided to expedite the local launch of new products that have gained popularity domestically.
Meanwhile, to respond to increasing global demand, Nongshim will establish an export-exclusive factory in Noksan, Busan. Once the Noksan export-exclusive factory begins full operations in the second half of 2026, Nongshim is expected to have the highest annual global supply capacity in the country at 2.7 billion units.