Korean instant noodles, or K-ramen, are particularly in focus, as last year’s exports are on track to hit an all-time high.
SEOUL, Jan. 4 (Korea Bizwire) –As global demand for Korean cuisine, commonly known as K-food, continues to rise, the South Korean food and beverage industry is gearing up to further penetrate international markets in the coming year.
Strategies include establishing production facilities abroad and introducing products tailored to local tastes, in collaboration with local distribution channels to boost sales.
Korean instant noodles, or K-ramen, are particularly in focus, as last year’s exports are on track to hit an all-time high. Samyang Foods, which won the Ministry of Agriculture, Food and Rural Affairs’ $400 million (approximately 520 billion won) agricultural food export tower award last year, plans to expand its exports based on its overseas subsidiaries.
In the United States, Samyang America is expanding its distribution through major retailers such as Walmart and Costco. Meanwhile, Samyang China and Samyang Japan are strengthening their competitiveness through online channels and convenience stores, respectively.
Samyang Foods, which saw an increase in exports of key products like its spicy chicken-flavored noodles, is planning to build a second factory in Miryang next year.
Nongshim, another major player, is set to increase production lines at its second U.S. factory later this year. Having established its first U.S. factory in 2005, Nongshim expanded its supply in 2022 with the construction of a second factory in response to a surge in product demand during the COVID-19 pandemic.
With the U.S. business showing growth, Nongshim plans to expand the second factory’s facilities and start construction on a third factory, while also increasing product sales in Southeast Asia, Australia, and Japan.
Notably, Nongshim aims to strengthen its global market presence with products like Chapagetti and Neoguri, following the success of Shin Ramyun. Collaborations with major international distribution channels to launch new products tailored to local consumer needs are part of the strategy to increase overseas sales to 50% of total sales next year.
Daesang, the producer of Jongga kimchi, is set to complete a kimchi factory in Poland in the latter half of this year, intensifying its focus on the European market.
Daesang, the producer of Jongga kimchi, is set to complete a kimchi factory in Poland in the latter half of this year, intensifying its focus on the European market. The decision to build the 6,613 square meter factory in Krakow was influenced by the increasing demand for packaged kimchi in Europe and the ease of accessibility and ingredient supply.
In partnership with the local company ChPN, Daesang established the joint venture Daesang ChPN Europe and plans to invest about 15 billion won in the factory’s completion.
Lotte WellFood, which will complete the expansion of its Indian ice cream subsidiary Havmor’s factory this year, plans to continue investing in India and expand its sales. The company is also enhancing its marketing for the Pepero brand.
Following marketing campaigns in the United States, Vietnam, and the Philippines for Pepero Day (November 11) last year, similar events are planned for this year as well.
Lotte Chilsung Beverage and Hite Jinro, both of which won $100 million agricultural food export tower awards last year for their beverage and liquor exports, are also continuing to strengthen their overseas business strategies.
Jipyeong Brewery, known for its Jipyeong makgeolli, is focusing on exports to the United States, China, and Japan.
Ashley Song (ashley@koreabizwire.com)
