November 25, 2024

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US consumers enjoy Shin Ramyun cup noodles. (Nongshim)

The nation’s No. 1 ramyeon seller, Nongshim, said Wednesday that its flagship Shin Ramyun product posted record sales of 1.21 trillion won ($903 million) in 2023, a 14 percent jump from the previous year.

The feat marks the second consecutive year that product sales surpassed 1 trillion won.

Shin Ramyun sold about 1.66 billion packs last year globally, which is

equivalent to 53 packets sold per second, the company said. Since its launch in 1986, its cumulative sales have amounted to 17.51 trillion won.

While maintaining its dominant position at home for 33 years, Shin Ramyun has also seen robust growth abroad, especially over the past five years.

In 2021, the company's overseas sales exceeded domestic sales for the first time. At present, overseas sales make up almost 60 percent of its total sales.

Notably, the US saw a 19 percent growth in on-year sales last year, contributing to almost half of the sales made overseas. Nongshim started operating its second plant in the US in May 2022.

Japan and Australia also reported 19 percent and 26 percent growth in sales, respectively, while sales soared by a whopping 58 percent in Vietnam.

Nongshim said that its next strategic target is South and Central American consumers, noting that it plans to target Texas and California first with localized flavors, and then expand directly to Mexico and other South American markets in phases.

"Shin Ramyun’s achievement is the outcome of diverse efforts to appeal to global consumers, all the while upholding the consistent quality and taste of Shin Ramyun," a Nongshim official said.

Nongshim recently launched the tom yum version of Shin Ramyun in Thailand to diversify its product range and meet local demands.

By Kim Hae-yeon (hykim@heraldcorp.com)