Seoul: South Korea's food exports, particularly instant noodles, have grown by an average of 8 percent annually over the past ten years, driven by the rising global interest in K-culture. This information was revealed by a business organization on Thursday.
According to Yonhap News Agency, K-food shipments have doubled, reaching US$7.02 billion in 2024 from $3.51 billion in 2015. Instant noodles, known as "ramyeon" in Korean, have been at the forefront of this growth. The report from the Korea Chamber of Commerce and Industry (KCCI) indicates that ramyeon exports have increased by an average of 20 percent annually over the past decade. This surge is attributed to strong demand for K-pop and other K-content, coupled with a preference for easy-to-cook and cost-effective meals amid an economic slowdown.
The report highlighted that last year, ramyeon was the top export item with sales reaching $1.36 billion, followed by home meal replacement (HMR) products at $980 million, beverages at $940 million, and health functional foods at $820 million. The United States, China, and Japan emerged as the top three importers of Korean ramyeon products last year.
In the U.S., Korean food products, including Samyang Foods Inc.'s Buldak spicy ramyeon series, have made their way into Costco Wholesale and other major discount store chains. A KCCI official noted that the combination of expanded sales networks in key markets and aggressive marketing strategies have propelled the demand for Korean instant-ramyeon products in international markets.