Seoul: Samyang Foods Inc., the renowned producer of the Buldak spicy ramyeon, announced on Thursday that its net profit for the first half of the year saw a substantial increase of 33.7 percent compared to the previous year, driven primarily by robust overseas sales.
According to Yonhap News Agency, the company reported that its net profit for the January to June period rose to 183.03 billion won (approximately US$132 million), up from 136.83 billion won in the same period last year. The operating profit also experienced a significant surge, increasing by 49.8 percent to 254.1 billion won from 169.6 billion won. Sales figures were equally impressive, with a 33.6 percent rise to 1.08 trillion won from the previous 810.0 billion won.
Samyang Foods attributed these positive results to the increased sales of its ramyeon products in key markets such as China, the United States, and Europe. Specifically, the U.S. subsidiary, Samyang America, reported first-half sales of $185 million, marking a 45 percent increase from the previous year. This growth was facilitated by the expansion of product availability in major retail chains, including Walmart, Costco, HEB, and Sam's Club.
In response to the burgeoning global demand, Samyang Foods commenced the construction of its first overseas production facility in China last month, with completion anticipated by early 2027. Presently, the company operates three production plants in South Korea and maintains overseas operations in China, Japan, Indonesia, the Netherlands, and the U.S.
Looking forward, a Samyang Foods official stated that the company plans to enhance export volumes by leveraging increased production capabilities at its domestic plants. The strategy includes diversifying export markets and implementing tailored approaches for each market to ensure sustained growth momentum.
Since its inception in 2012, the Buldak ramyeon has achieved cumulative sales exceeding 7 billion units, generating over 4 trillion won in revenue. The product's extreme spiciness gained international fame following a viral food-eating challenge in 2014.