Nongshim Shin Ramyun’s global sales continue to soar

Nongshim has achieved 1 trillion won (approximately 750 million U.S. dollars) in annual sales for the second consecutive year with its Shin Ramyun product alone. The feat results from its success in overseas markets such as the U.S.

Nongshim announced Wednesday that Shin Ramyun's sales totaled 1.21 trillion won (900 million US dollars) last year, up 14.2 percent from the previous year (1.06 trillion won or 794 million dollars). According to the company, Shin Ramyun sold 1.66 billion packs last year. That is 53 packs sold every second worldwide. Shin Ramyun, which was launched in October 1986, has been around for 37 years, with cumulative sales and revenue of 38.6 billion packs and 17.51 trillion won (13 billion dollars), respectively.

Shin Ramyun has held the top spot in the domestic instant noodle market since the 1990s and has recently seen its sales grow rapidly overseas. In 2021, the product's overall overseas sales, which combine exports and sales from the company’s overseas subsidiaries, reached 500 billion won (375 million dollars), surpassing domestic sales (430 billion won or 320 million dollars). As a result, the product became a ‘trillion won (750 million dollars) seller’ in 2022. Last year, Shin Ramyun's overseas sales reached 710 billion won (532 million dollars), accounting for 58.7 percent of its total sales.

Over the past five years, Shin Ramyun has made great strides in overseas markets, growing at an average annual rate of 12 percent in sales. The growth in the U.S. market is robust. Thanks to the expansion of supply through its second plant in the U.S., which began operation in May 2022, sales have surged, mainly to large U.S. retailers such as Costco and Walmart. According to Nongshim, sales of Shin Ramyun in the U.S. market grew 19 percent year-on-year last year, accounting for about half of the total increase in overseas sales. Sales in Japan, Australia, and Vietnam also contributed to the growth, posting 19 percent, 26 percent, and 58 percent year-on-year growth, respectively.


jino@donga.com