ANN/THE KOREA HERALD – Samyang Roundsquare, previously known as Samyang Foods Group, has been rapidly extending its global footprint, driven by the popularity of its spicy ramen products. Over 10 years, its flagship Buldak Ramen has solidified its position as a prominent Korean brand in 95 countries.
Since the full-scale export of the Buldak series commenced in 2016, Samyang has experienced a substantial increase in earnings. The company recorded sales of KRW909 billion (USD690 million) last year, marking a remarkable 153 per cent surge from KRW359.3 billion in 2016.
The company anticipates reaching the KRW1 trillion sales milestone this year with the ongoing momentum. As global sales now make up almost 70 per cent of its total sales, overseas branches, such as those in China and the United States (US), are increasingly playing a bigger role in the company’s expansion. Its Chinese branch reported KRW680 million in sales last year, accounting for 25 per cent of the company’s global sales. In the first half of this year alone, its sales exceeded CNY370 million.
More than 100 employees are working at the Chinese branch to be deployed in 13 of the nation’s provinces.
The company also established Samyang America in 2021. The US unit’s sales also soared more than 90 per cent to USD49.8 million in the first six months of this year compared to a year ago.
