Latest news with #Samyang
The Star
a day ago
- Business
- The Star
Samyang Foods completes plant expansion amid growing demand for Buldak spicy ramyeon
This photo provided by Samyang Foods Inc. shows its new plant in Milyang, some 280 kilometers southeast of Seoul. - Photo: Yonhap SEOUL: (Bernama-Yonhap) Samyang Foods Inc., known for its globally popular Buldak spicy ramyeon, said on Wednesday (June 11) it has completed a plant expansion to meet rising global demand for its signature product, Yonhap News Agency reported. The company said it has constructed a second production facility adjacent to its existing plant in Milyang, some 280 kilometres (km) southeast of Seoul. Samyang operates two other domestic plants in Wonju and Iksan, located 85 km southeast and 180 km south of the capital, respectively. The new Milyang plant, equipped with a smart factory system, will serve as Samyang's global manufacturing hub to meet surging demand in the United States (US) and Europe and to better address evolving customer needs, the company said in a press release. In her speech at the completion ceremony, Samyang Foods Chief Executive Officer (CEO) Kim Jung-soo said that as the creamy, spicy Carbo Buldak is currently the brand's most beloved product, the company will continue to explore and diversify the spicy flavour category to become the definitive "bible of spiciness." "We aim to make the Buldak brand a cultural icon. Over the past decade, content focused on eating more, faster and spicier has taken the lead. "Going forward, we want to become a platform for content that is more enjoyable and entertaining," she said. The new facility adds an annual production capacity of 830 million Buldak ramyeon units, bringing the company's total Buldak output across its four plants to 2.9 billion units per year. In addition to its domestic facilities, Samyang plans to begin construction of its first overseas plant in China next month. The company currently has operations in China, Japan, Indonesia, the Netherlands and the United States. Last year, Samyang's sales surged 45 per cent to 1.73 trillion won (US$1.26 billion) from 1.19 trillion won a year earlier, driven by robust sales of its Buldak ramyeon series, particularly in the United States and China. Its exports also exceeded 1 trillion won for the first time in its history in 2024. Since its launch in 2012, cumulative sales of the hot chicken-flavoured instant noodles have surpassed 7 billion units, generating more than 4 trillion won in revenue. Buldak ramyeon gained worldwide attention after its extreme spiciness sparked a viral food-eating challenge in 2014. - Bernama-Yonhap
Korea Herald
a day ago
- Business
- Korea Herald
Buldak rages on: Samyang fires up US push with new export plant
With record overseas sales, Samyang readies tariff response to safeguard global momentum MIRYANG, South Gyeongsang Province — Through the glass-paneled corridors of a pristine, state-of-the-art facility, rows of conveyor belts carry neat rectangles of wavy ramyeon, still glistening from a sixty-second plunge into boiling vegetable oil. This deep-frying marks the midpoint in the noodle-making process. "Each unit will soon be paired with its sauce packet, then sealed and sent through a final round of quality control," explained plant manager Oh Seung-yong. The final product bears a familiar name on its packaging: Buldak Ramen, the flagship noodle brand of South Korea's Samyang Foods, whose unrelenting global momentum has given rise to this just-completed, next-generation smart plant. At Wednesday's factory opening, Vice Chair Kim Jung-soo vowed to keep pushing the envelope: 'The star of Buldak has only just begun to blaze. It will burn hotter, shine brighter and we'll keep it burning long into the future.' Riding a wave of record-breaking momentum, with overseas sales surpassing 1 trillion won ($730 million) last year and its stock price climbing above 1 million won, Samyang Foods sees the new production base as key to meeting surging global demand. Currently, the Buldak maker produces all its noodles domestically, though its first overseas plant, now under construction in China, is slated for completion in 2027. The recently opened plant, established as an extension of its existing facility in Miryang, South Gyeongsang Province, joins Samyang's network of production sites in Wonju, Gangwon Province, and Iksan, North Jeolla Province, boosting total annual ramyeon capacity from 2.08 billion to 2.8 billion units. Spanning a total floor area of 34,500 square meters, it was completed in just 15 months after breaking ground in March 2024, with a total investment of 183.8 billion won. Unlike the original Miryang facility, which primarily handles exports to China, the new plant is aimed squarely at Western markets, particularly the United States and Europe. While overseas markets make up 80 percent of the company's overall sales, the US market charted a robust expansion last year, reaching $280 million in sales, a 127 percent increase year-over-year. The US accounted for around 27 percent of Samyang's overseas revenue, followed by China at 29 percent. The European market contributed 18 percent. 'Compared to the first facility, this new site is a far more technology-infused operation, capable of producing up to 830 million units of noodles annually,' said Oh at a press conference held a day before the opening ceremony. According to him, the second plant features autonomous mobile robots to boost operational efficiency, while proprietary packaging logistics technology is expected to cut production costs. The facility also brings Samyang a step closer to its green goals, with expanded capacity for solar energy generation. Still Buldak-focused For the time being, Samyang isn't letting up on Buldak, even as it stirs excitement with new launches like Maptang, a fiery soup-based noodle for the next wave of heat-seekers. 'We're not claiming to have reached the peak, but rather that we've entered the right trajectory,' said CEO Kim Dong-chan during the press conference. 'Just as Coca-Cola is a household name around the world, our goal for Buldak is for it to stand shoulder to shoulder with that level of brand recognition. Vice Chair Kim also noted that Buldak is evolving beyond a food trend into a cultural symbol, becoming a platform for joyful and entertaining content. 'Over the past decade, Buldak content was all about eating (something) more and spicier, but now, we aim to create experiences people can genuinely enjoy with Buldak,' Kim said. 'Just as (we did with) our creamy variant, Carbo Buldak, we'll continue to explore and expand the spicy spectrum to showcase the full depth of our flavor range.' Although tariffs remain a source of uncertainty for the company, Samyang is staying well-prepared, according to CEO Kim. 'We are now subject to a 10 percent baseline tariff, with additional duties possibly taking effect in July,' he said. 'To respond swiftly, we've formed a task force to assess regional cost structures and prepare countermeasures across key markets.'
Nikkei Asia
28-05-2025
- Business
- Nikkei Asia
South Korea's Samyang weighs Japan acquisitions: chairman
SEOUL -- South Korean food and chemical group Samyang Holdings is looking to acquire Japanese companies primarily in the chip industry, its leader told Nikkei in an interview. "We intend to actively engage in M&As [mergers and acquisitions] with Japanese companies, such as semiconductor material manufacturers," said Samyang Chairman Kim Yoon.
Korea Herald
12-05-2025
- Business
- Korea Herald
Samyang Foods' stock tops W1m on Buldak boom
Shares of Samyang Foods surged past 1 million won ($715) on Monday, hitting an all-time high on the back of strong global demand for its fiery Buldak noodles. The stock opened at 1.001 million won per share, up 0.81 percent from Friday's close, briefly touching 1.004 million won in premarket trading on Nextrade. As of 1 p.m., the shares had slipped back to around 960,000 won. The milestone puts the noodle maker among a rare group of Korean firms with six-figure share prices. Currently, only Samyang Foods and Samsung Biologics hold this distinction. The rally underscores Samyang's swift ascent. The stock has nearly doubled from around 500,000 won in October and is up fivefold from August 2023, when it first crossed the 200,000-won mark. Behind the soaring stock price are record earnings. Samyang posted 344.2 billion won in operating profit in 2024, up 133 percent from the previous year. Annual sales rose 45 percent to 1.73 trillion won, with overseas revenue accounting for almost 80 percent — 1.33 trillion won, up from 800 billion won in 2023. The company's overseas sales crossed the 1 trillion won mark for the first time, driven by rapid growth in the US and China. Sales at its US unit jumped 127 percent on-year to $280 million, while its Chinese operations brought in 2.1 billion yuan ($290 million), marking a 75 percent increase. To meet rising demand, Samyang is set to begin operations at its second domestic plant in Miryang, South Gyeongsang Province, in June. It is also building its first overseas facility in China, with six production lines slated for completion by January 2027. Samyang shows no sign of slowing momentum, with market tracker FnGuide projecting first-quarter sales to rise 29 percent on-year to 498.2 billion won and operating profit to grow more than 30 percent to 104.5 billion won. Market sentiment remains bullish as well. Jang Ji-hye, an analyst at DS Investment & Securities, recently raised her price target from 1 million to 1.2 million won, citing robust global appetite for Buldak products and expanding production capacity. Yuanta Securities analyst Son Hyun-jeong sees strong growth potential in Samyang as it pushes to turn its instant noodle brand into a global "mega-brand," with the Buldak line now extending into sauces, snacks and ready-made meals.
Yahoo
05-05-2025
- Entertainment
- Yahoo
LOTTE Mart Express's 1st SG outlet opens, offers viral Korean street snacks & a self-cook instant noodle station
You can now enjoy your favourite Korean snacks and beverages without flying 4,500+ km. LOTTE Mart Express has opened its first-ever Singapore outlet in Fairprice Xtra VivoCity, where you will find an incredible range of Korean delights to satisfy your K-ravings! LOTTE Mart Express boasts both traditional and trendy modern Korean street food, ready-made meals, and candy— you name it, they've got it! The packaged products include chips, Melkiss candies, banana milk, kimchi and Korean ginseng chicken soup kits. Some of the more interesting products you can find are the viral convenience store drink packets, which come in flavours like Americano, watermelon and green grape. To enjoy, grab a cup of ice from the freezers, open a drink packet and pour it in for a chilly beverage. One of the new LOTTE Mart Express's highlights attracting visitors to the store is the cooking station. Much like the instant noodle stations you can find in Korea, there are stoves provided for you to boil the water for your noodles. It's like the iconic Korean 'eating noodles by the Han River' experience, minus the river, of course. First, select a packet of instant ramyeon based on your preferred spice level from popular brands like Samyang and Shin Ramyun. Next, head to the self-cook stoves to start cooking. You can even buy and add ingredients such as sausages and eggs to customise the noodles to your liking. LOTTE Mart Express in Fairprice Xtra VivoCity is also collaborating with a Korean eatery brand to set up a mini grab-and-go kitchen selling a variety of street foods. Yorihada Kitchen offers freshly cooked and piping hot Korean Fried Chicken (S$8.90++),rice cakes (S$5.90++) and(S$5.90++). Want to capture your memories? Head to the self-service photo booth provided to snap some pictures with your friends before leaving. To make the best of your experience, spend at least S$30 to receive a token that can be used to redeem prizes from the store's giant gachapon machine while stocks last! For more details on limited-time promotions, click here. 'If you're not Korean, you can't cook Korean food' – Jinjja Chicken reveals Singaporean roots The post LOTTE Mart Express's 1st SG outlet opens, offers viral Korean street snacks & a self-cook instant noodle station appeared first on
