Samyang Foods Achieves Record Profits with Global Popularity of Buldak Bokkeum Myun
Creatrip Team
a year ago
Samyang Foods has set a new record in profits, driven by the sustained global popularity of its spicy ramen, Buldak Bokkeum Myun. In the first quarter of this year, the company's operating profit increased by 67% year-on-year to 134 billion KRW (approx. $106 million), marking its first time surpassing 100 billion KRW in quarterly profits. Sales reached an all-time high of 529 billion KRW (approx. $418 million), a 37% increase from the previous year, with 80% of revenue coming from overseas markets. U.S. revenue grew by 62%, with products ranking high in sales at major retailers like Walmart. In China, sales rose by 22%, and Samyang announced plans to build its first overseas production facility there. The company's European branch recorded 16 million euros (approx. $17 million) in sales. Samyang expects further production enhancement with the completion of a new plant in Korea this June.
