[Photo by Yonhap]

According to Pulse by Maeil Business News Korea,

South Korea’s monthly instant noodle exports surpassed the $100 million mark for the first time.

According to trade data from the Korea Customs Service on Sunday, instant noodle exports totaled $108.6 million in April 2024, or a 46.8 percent increase year-on-year. This increase is the highest figure in 1 year and 11 months since May 2022, when the figure recorded a 49.3 percent rise thanks to a Korean food craze which was then at its beginning stages.

The April figure also significantly surpassed the previous record of $92.91 million in February. With this trend, this year’s annual instant noodle exports may break the record annual exports of $952.4 million set in 2023.

The popularity of Korean instant noodles is attributed to frequent exposure on screen, coupled with the increased demand for easy-to-store foods after the Covid-19 pandemic, according to the food industry, and Korea‘s instant noodle exports have actually doubled in four years from 2019’s $467 million figure.

A significant portion of the recent surge is led by Samyang Foods Co.’s “Buldak” spicy stir-fry noodle series. According to Samyang Foods, the instant noodle maker reported 385.7 billion won ($284.5 million) in sales, with 80.1 billion won in operating profits for the first quarter of 2024.



By Kim Gyu-sik and Chang Iou-chung

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (May 20, 2024)