This undated file photo provided by Nongshim Co. shows its pop-up store, set to be operated from Oct. 5-14, 2024, in Harajuku, Tokyo, to promote its Shin Ramyun products to local customers. (Image courtesy of Yonhap)
SEOUL, Sept. 30 (Korea Bizwire) — Nongshim Co. said it will nearly double the sales of its Shin Ramyun instant noodles in Japan by 2026 as it further penetrates the local noodle market.
Nongshim, South Korea’s leading instant noodle maker, aims to achieve 20 billion yen (US$140 million) in Shin Ramyun sales in 2026, up from 11 billion yen in 2023, the company said in a statement.
This year, the company said it expects to sell 13.5 billion yen worth of “spicy” Shin Ramyun products in the neighboring country.
When all “ramyeon” products are combined, Nongshim is expected to post 17 billion yen in overall ramyeon sales in Japan this year, up 21 percent from 14 billion yen a year earlier.
Nongshim earns nearly 40 percent of its total ramyeon sales in overseas markets, including the United States, China and Japan.
Nongshim’s sales stood at 3.41 trillion won ($2.6 billion) in 2023, up 8.9 percent from 3.13 trillion won a year ago.
The company has six domestic plants and six overseas ones — two in the U.S. and four in China. It sells instant noodle products represented by its flagship noodles Shin Ramyun, Chapagetti and Neoguri in global markets.
(Yonhap)
