South Korea’s exports of instant noodles, also known as “ramyeon” in Korean, reached a record high of around $1 billion last year.
Exports of South Korean ramyeon products were estimated at $952 million (1.2 trillion won) in 2023, according to the Korea Customs Service on Jan. 7. Ramyeon Exports have exceeded the 1 trillion won threshold for the first time, rising 24 percent compared with the previous record high of $765 million in 2022.
Global sales of ramyeon have been on the rise since 2015. Exports in terms of value, which stood at $200 million in 2015, doubled to $400 million in 2018. Ramyeon exports continued to grow, surpassing $600 million in 2020 and $700 million in 2022.
This trend reflects a surge in demand for ramyeon and other Korean instant noodle products, often referred to as “K-Ramyeon”, driven by the global popularity of Korean TV shows and movies. Ramyeon tasting challenges trending on social media platforms such as TikTok and YouTube have also sparked further interest in Korean instant noodles.
The Korean instant noodle sector is expanding its business in response to growing demand for ramyeon. Nongshim, the country’s top ramyeon firm, is ramping up its production capabilities in the U.S. The company will set up a third production plant in the U.S. next year. In Southeast Asia, Nongshim aims to expand its presence in the market by introducing instant noodle products that appeal to local tastes, such as tom yum goong flavored ramyeon.
Samyang Foods, renowned for its spicy Buldak noodles, also plans to boost production by investing 164.3 billion won by 2025 to build a second plant in Miryang, South Korea. The company expects its annual export production capacity will increase to 1.2 billion units once its second plant begins operation alongside its first plant.
Food conglomerate Ottogi also aims to expand its instant noodle exports to 60 countries and achieve over 100 billion won in export sales this year.
