S.Korea's monthly ramen export surpasses $100 mn

The monthly export value of South Korea's ramen exceeded $100 million for the first time.

According to the Korea Customs Service's trade statistics released on Sunday, last month's ramen export value was $108.59 million, a 46.8% increase from last year. 

It's the highest growth rate since May 2022.

Ramen export values have increased annually for nine consecutive years from 2015 to last year. Last year's ramen export value was $952.4 million, just shy of the $1 billion mark.

Considering the current trend, it's projected that the value will exceed $1 billion this year and reach $1.1 billion.

Recently, a significant portion of K-ramen exports has been attributed to Samyang Foods' Hot Chicken Flavor Ramen, known as Buldak-Bokkeum-Myeon in South Korea.

In the first quarter of this year, Samyang Foods reported consolidated sales of 385.7 billion won and an operating profit of 80.1 billion won, representing increases of 57% and 235% respectively year over year. 

Overseas sales surged by 85% thanks to the popularity of products like Carbo Buldak, with international revenue accounting for 75% of the total in the first quarter.

The global demand for K-ramen has increased due to the impact of COVID-19 and the Korean Wave (Hallyu).

The pandemic boosted the demand for easy-to-store convenience foods, and the rising popularity of K-pop, K-dramas, and K-movies has also heightened awareness of Korean ramen.

Write to Ji-Yoon Yang at yang@hankyung.com