Last month, the ramen export amount exceeded $120 million (174.9 billion won) for the first time, setting a record for the highest ever on a monthly basis.
According to the Customs Service and the Korea Trade Statistics Portal (TRASS), the ramen export amount last month was provisionally recorded at $121.15 million. This figure represents a 30.4% increase compared to the same period last year ($92.9 million). The ramen export amount for January to February this year reached $228.64 million, up 28% from $178.65 million during the same period last year. The ramen export volume for January to February this year was 57,190 tons, a 30.2% increase compared to the same period last year.
Ramen was the top item for agricultural and food exports last year. Growing demand from various countries worldwide, driven by the popularity of K-content and the trend of convenience food preference, led to an annual increase in ramen export amounts from 2015 to last year. Over the past decade, the average annual growth rate of ramen exports reached 20%.
As domestic ramen companies strengthen their overseas operations and plan to increase supply further, the food industry anticipates that ramen exports will rise even more in the future.
Nongshim established its European corporation 'Nongshim Europe' in Amsterdam, Netherlands, this month to target the European market. Additionally, to respond to growing global demand, it has decided to establish an export-only factory in NogSan, Busan. Starting from the second half of next year, when the NogSan export factory becomes fully operational, Nongshim will be able to supply 2.7 billion products annually to overseas markets.
Samyang Foods anticipates that once its second factory in Miryang, scheduled for completion in June, begins full operations, it will be able to accelerate its overseas sales expansion.