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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Seoul, August 29, 2025 — Samyang Foods is expected to see stronger overseas growth and profitability, supported by the expansion of its second Miryang plant (“Miryang 2”) and the rising global popularity of its flagship Buldak Ramen, Daishin Securities reported on August 29.
Analyst Han-Sol Jung noted in the report that “Buldak Ramen’s global penetration rate is rising rapidly, suggesting sufficient potential for additional capacity expansion in the future.”
Miryang 2 currently operates three of its six production lines (three for packet noodles, three for cup noodles) and plans to run all lines on a two-shift basis by year-end. Full-scale production began in July, with utilization estimated at around 40% to date. Once fully operational, the facility is expected to produce up to 8.3 billion servings annually, compared with a combined maximum of 27 billion servings from existing plants.
Samyang Foods is also preparing its first overseas production base in China, scheduled to begin operations in Q1 2027. However, given the strong momentum of global demand for Buldak Ramen, additional expansion plans may be considered.
Demand for Buldak Ramen remains robust across international markets. With supply bottlenecks easing in the second half of 2025, Samyang Foods is expected to better meet global demand. Overseas sales have grown at an average annual rate of over 35% since 2020. In 2024, export sales were distributed as follows: Asia (48%), North America (26%), and Europe (17%).
The company is also broadening its partnerships with global foodservice brands. In the U.S., Samyang has partnered with Panda Express, boosting sales of sauces, and it is preparing collaborative products with the Philippines’ Jollibee. Jung emphasized that “diversifying brand collaborations and product lines will further raise consumer awareness and support additional growth in sauce sales.”
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
