Nongshim, South Korea’s leading instant noodle maker, says it is accelerating overseas expansion as its ramen products benefit from the growing popularity of Korean culture in countries such as the US.
Instant noodles have grown into a $50bn industry, with South Korea’s exports of the product hitting a record $1bn last year. Nongshim’s most popular spicy noodle product, Shin Ramyun, posted record sales of Won1.2tn ($900mn) in 2023, with nearly 60 per cent coming from abroad. Nongshim has set a target of tripling annual sales in the US to $1.5bn to become the biggest instant noodle maker in the market by 2030.
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