Nongshim’s Shin Ramyun, which has maintained the No. 1 spot for decades, passed it on to Samyang Foods’ spicy chicken noodles due to the impact of BTS’ Jimin.
According to the distribution industry on the 18th, Nongshim, the ‘#1 in ramen industry‘, posted an operating profit of 4.3 billion won in the second quarter of this year on a consolidated basis, down 75.4% from the same period last year (the second quarter of 2021). In particular, operating profit on a domestic basis recorded a loss for the first time in 24 years.
On the other hand, Samyang Foods, which was expected to perform poorly, achieved the highest quarterly sales thanks to its noodle brand ‘Buldak’ and the diversification of exporting countries.
Samyang Foods recorded sales of 255.3 billion won and an operating profit of 27.3 billion won on a consolidated basis in the second quarter. This is an increase of 73% and 92% respectively over the same period last year. Exports in the second quarter more than doubled year-on-year to 183.3 billion won, setting a new record.
Samyang Foods’ sales are dominated by spicy chicken noodles, which is a hot seller not only in Korea but also abroad. K-pop idols, who are famous all over the world, show them eating spicy chicken noodles, which has a great promotional effect.
In particular, BTS Jimin ate spicy chicken noodles on various broadcasts, drawing attention. Immediately the Spicy Chicken Noodles Challenge became a worldwide craze.
Samyang Foods participated as the main sponsor at the BTS concert in Las Vegas in April.
Source: wikitree
