Exports of Korean instant noodles exceeded $800 million from January to August
South Korea's exports of instant noodles, also known as ramyeon, were estimated to have reached $800 million in the first eight months of this year, data showed Wednesday.
The figure represents a 31.7 % hike from the January-August period of last year, according to data compiled by the Ministry of Agriculture, Food and Rural Affairs.
By country, outbound shipments to China grew 26.9 % on-year to $160 million and exports to the United States jumped 61.5 % to $140 million, mainly driven by the global popularity of Korean instant noodles.
Exports to the Netherlands also soared 58.3 % to $60 million and outbound shipments to Britain and Germany surged 64.9 % and 47.4 %, respectively.
Officials from major ramyeon companies, including Nongshim Co. and Samyang Foods Co., said they will work to further expand their foothold in overseas markets, in particular in the US and Europe, in the fourth quarter.
Nongshim plans to establish a sales unit in Europe early next year and Samyang is constructing a new manufacturing plant in Milyang, about 280 kilometres southeast of Seoul, for exports.
Yonhap
The Korea Herald
Asia News Network
