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Nongshim expects record overseas sales with flagship instant noodlesBy Jo He-rim
Published : Nov. 4, 2020 - 15:08
Nongshim, a South Korean food company, said Wednesday that it expects record-high overseas sales of $990 million this year with its flagship instant noodle brand Shin Ramyun.
According to Nongshim, the overseas sales forecast is up about 24 percent on-year, as the demand for instant noodles jumped across the world in the wake of COVID-19.
By year-end, sales of Shin Ramyun will reach about $390 million, Nongshim said. Shin Ramyun has been chosen as one of the world’s best instant noodle brands by several media outlets, including the New York Times.
“Shin Ramyun is a No. 1 Korean food brand representing South Korea to impress the world,” a Nongshim official said.
Among instant noodle producers throughout the world, Nongshim stood fifth on a list determined by Euromonitor International, the food company added.
Improved performance in Europe and the US contributed to the higher sales, Nongshim said. In Europe, the company said, it predicts that sales will increase by about 30 percent on-year.
The company’s US business unit, which also manages its operations in Canada, is expected to see sales of $326 million this year, an increase of about 28 percent from a year earlier, Nongshim said.
By Jo He-rim (firstname.lastname@example.org)
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