Samyang Foods stated that it will strive to achieve overseas sales of 1 trillion won this year.
Kim Dong-chan, CEO of Samyang Foods, met with reporters after the 64th regular general meeting of shareholders held at the Samyang Foods headquarters in Seongbuk-gu, Seoul, on the morning of the 26th, and noted, "We are confident in our products and will enhance our production infrastructure this year," adding, "I will work hard to achieve overseas sales of 1 trillion won."
Samyang Foods' consolidated sales for the previous year were 1.728 trillion won, of which overseas sales amounted to 1.3359 trillion won. This means that overseas sales accounted for about 77% of total sales. This is the first time in the company's history that Samyang Foods has surpassed 1 trillion won in overseas sales.
CEO Kim said, "Despite the uncertain economic outlook and deterioration of the global trade environment last year, we achieved remarkable growth in the global market," and added that the company plans to continue its growth by focusing on increasing production and diversifying its brand portfolio.
Samyang Foods plans to localize production through securing overseas production bases in major countries such as China by 2027. It also expects an increase in annual production capacity through the completion and operation of the second plant in Miryang in June.
CEO Kim stated, "We will strengthen our global network through local production by securing overseas production bases in major countries such as China by 2027."
He also mentioned dividends. CEO Kim said, "In order to enhance shareholder value, we will continue reasonable dividends to increase predictability for shareholders while maintaining an appropriate level of dividends." Samyang Foods decided to pay a dividend of 3,300 won per share for the fiscal year 2024, which is an increase of about 57% compared to 2023. This payment will provide 1,800 won as profit dividends, excluding the 1,500 won already paid as an interim dividend.