Samyang targets health-conscious consumers

Samyang Roundsquare, the parent company of Samyang Foods, is jumping into new businesses and research related to plant-based protein and microbiomes in a bid to diversify its revenue stream currently centered around ramyeon products.

Samyang Roundsquare CEO Kim Jung-soo speaks during a press conference held to commemorate the 60th anniversary of Samyang Ramen on Tuesday in Jongno District, central Seoul, on Thursday. [SAMYANG ROUNDSQUARE]

Samyang Roundsquare, the parent company of Samyang Foods, is jumping into new businesses and research related to plant-based protein and microbiomes in a bid to diversify its revenue stream currently centered around ramyeon products.

The strategy, announced on Thursday by Samyang Roundsquare CEO Kim Jung-soo, aims to tap into growing consumer consciousness toward healthier, more tailored eating habits.

“We anticipate that the plant-based protein business will serve as a means to address climate change and health concerns,” said Jefferey Chun, CSO of Samyang Roundsquare and Kim's son, during a press conference on Thursday. The conference was held to commemorate the 60th anniversary of Samyang Ramen, Korea's first-ever ramyeon. “Through food as a medium, we aim to contribute to a more enjoyable dining culture and proactive health management.”

To further its plant-based protein business, Samyang Roundsquare will intensify research on soybeans. The initiative encompasses a wide range of food products, including enhanced protein ramyeon, rice, snacks and home meal replacement (HMR) options, in addition to meat substitutes.

Samyang Square Lab, or Samyang's research institute, will focus on developing personalized food products drawing upon research in areas such as microbiomes. Samyang Roundhill, Samyang's pasture, will administer wellness programs promoting proper food consumption and disease prevention through nutrition.

Samyang Roundsquare also expected this year's annual revenue to reach 1 trillion won ($754.1 million), supported by increased production from a new factory to open in Miryang, South Gyeongsang.

“The operation rate of the first Miryang factory, completed in May last year, has reached its maximum, prompting the decision to establish a new factory in the region,” CEO Kim said. “The new facility will also become a manufacturing facility dedicated to exports, and we will attempt to achieve 1 trillion won with Buldak sales.”

Meanwhile, Samyang AANI, responsible for overseeing the group's intellectual property, has announced its goal of promoting Korean cuisine internationally through digital content and e-commerce channels.

“Through the Buldak Challenge (Fire Noodle Challenge), we've witnessed people from around the world enjoying a shared cultural experience,” said Kim. “We take immense pride in serving as a catalyst for fostering global emotional connections. We are confident that, in the future, Buldak will evolve into an even larger K-culture platform.”

To achieve this vision, Samyang Roundsquare is planning to create a consumer campaign on media platforms such as YouTube and TikTok beyond the previous criteria of “spicier, faster, more” used for the existing Buldak Challenge.

The Buldak Challenge is an online challenge where people enjoy — or sometimes struggle with — Samyang's fiery Buldak Ramen on social media.

Samyang Roundsquare will create its own online shopping channel where it will sell Samyang Food's products, with future plans to introduce a wide range of Korean food products from other brands.

“We are thinking of collaborations with global e-commerce platforms like Amazon in the United States and Douyin in China,” said Jung Woo-jong, CEO of Samyang AANI. “Our ultimate aim is to move closer to business-to-customer sales.”

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]