Shares of South Korean instant noodle maker Samyang Foods hit a record market capitalization of 7.02 trillion won ($5.11 billion) on April 16, surpassing the 7 trillion won mark for the first time, driven by strong overseas demand for its flagship Buldak (or “fire chicken”) ramen.
As of 10:12 a.m. local time on April 17, shares had risen 0.64% to 938,000 won, nearing the symbolic 1 million won level, which earns stocks the title of “emperor shares” in South Korea.
Samyang’s market value now exceeds not only rival Nongshim, the country’s largest instant noodle maker, but also food industry giant CJ CheilJedang. The company ranks 59th by market capitalization on the benchmark KOSPI, ahead of brands like Amorepacific and defense firm LIG Nex1.
The surge is fueled by strong earnings, especially in overseas markets. Samyang reported 1.33 trillion won in overseas revenue for 2024, a 65% increase from the previous year. Overseas sales, which stood at 93.1 billion won in 2016, surpassed 600 billion won in 2022, 800 billion won in 2023, and broke the 1 trillion won threshold last year.
Exports now account for 77% of Samyang’s total revenue of 1.73 trillion won in 2024.
