Kim Dong-chan, CEO of Samyang Foods (003230.KS), expressed his commitment to accelerating business portfolio diversification through "Maeptang," targeting the Southeast Asian market, and "Tangle," a global cup pasta brand.
After the company's 65th annual general meeting held at Samyang Foods' headquarters in Jung-gu, Seoul, on Wednesday, Kim told reporters, "We are preparing new Maeptang products centered on the Southeast Asian market and plan to pioneer the global cup pasta market through Tangle." He added, "We will move beyond the existing Buldak-centered portfolio to expand into new brands and categories that contribute to revenue and profitability."
Kim also outlined the company's global production strategy. "We are currently building a production subsidiary in the Jiaxing region of China, with completion targeted for January 2027," he said. "We are also investing in domestic production facilities to supply the soup base needed for local production in China." The approach is interpreted as a strategy to dual-track the global supply chain — expanding overseas production while maintaining control of core ingredients domestically.
The CEO made clear his ambition for global market expansion. "We have expansion plans across all regions, including local production in China, Southeast Asia and the Middle East, in addition to the U.S. and Europe," Kim said. "In particular, we believe we have not yet achieved a satisfactory level of market share in the U.S. and Europe, so we will continue to increase our revenue share in those markets."
Regarding concerns over packaging material and logistics shortages stemming from recent oil supply instability, Kim said, "There has been no direct impact on our company so far, but we are closely monitoring the situation as prolonged disruptions could create problems centered on our partner suppliers."
He also noted, "Our shareholder return policies, including share buybacks, are being pursued in parallel with the China factory construction and domestic facility investments, while taking financial soundness into consideration."
At the shareholders' meeting, Kim said, "We will strengthen our production base through process improvements and facility upgrades and respond flexibly to expanding global demand." He added, "We will broaden our product lineup to include sauces, snacks and ready-to-eat meals, and maximize synergies with our food business by nurturing new growth brands in healthcare and plant-based protein."
Samyang Foods posted record-high results last year, reporting consolidated revenue of 2.3518 trillion won ($1.7 billion) and operating profit of 524.2 billion won.
