Korea’s ramyeon exports neared $1 bn-mark in 2023

[Photo by Yonhap]

South Korea saw its overseas sales of instant noodles, or ramyeon, came close to $1 billion mark in 2023, the year marking the 60th anniversary of its invention. The data from the Korea Customs Service and the food industry showed that ramyeon exports totaled $952 million as of Sunday, a 24 percent increase from a year ago.

Global sales of ramyeon have been on the rise for nine years since 2015. Exports, which totaled $200 million in 2015, doubled to $400 million in 2018 and $700 million in 2022.

The Korea Agro-Fisheries & Food Trade Corporation (aT), a government agency responsible for supporting exporters of agro-fishery and food, found that the largest ramyeon importer was China, followed by the United States. When the fact that some ramyeon makers run factories outside of the country is considered, the actual market size could be larger than suggested in data.

Overseas sales growth has been a byproduct of the worldwide popularity of Korean media content, including films and television series. In addition to growing demand for ready-to-eat foods in the wake of the Covid-19 pandemic, ramyeon-eating challenges that went viral on social media led to an increase in sales.

South Korean instant noodle makers expect global ramyeon consumption to continue growing in 2024, with leading ramyeon maker Nongshim Co. preparing to add production lines to its second U.S. plant during the second half of the year.

Ramyeon makers will continue strengthening their efforts to capture global markets by making products tailored to local tastes.