Nongshim is accelerating overseas expansion to mark the 40th anniversary of its Shin Ramyun launch. The company aims to reach 7.3 trillion won in revenue by 2030 and raise the overseas share to 60%, vaulting into the ranks of a "global integrated noodle food company."
Nongshim unveiled its mid- to long-term vision on Wednesday at a press conference marking Shin Ramyun's 40th anniversary at Lotte Hotel in Sogong-dong, Seoul. "We will expand from a fried-noodle-centered business to the entire noodle category, including dried noodles and stir-fried noodles," Nongshim CEO Cho Yong-cheol said. "Through new businesses such as snack exports and health functional foods, we will achieve 7.3 trillion won in sales by 2030."
Nongshim will first roll out its new "Shin Ramyun Rosé" cup noodle in South Korea and Japan on the 18th of this month. The product blends tomato and cream with the spicy flavors of gochujang and Shin Ramyun. Starting next month, the company will also release a bag-noodle version and expand local production and exports overseas.
In the second half of this year, Nongshim will launch a second campaign with aespa, its global Shin Ramyun ambassadors. "Shin Ramyun Bunsik," an experiential store already operating in Peru, Japan, Vietnam and the U.S., will open in Seongsu-dong, Seoul, next month. Serving "freshly made ramyun" produced the same day at metropolitan-area factories, the venue will offer overseas tourists a hands-on K-food experience. Last winter, the company also ran an experiential "Han River Ramyun"-themed marketing campaign tied to the Sapporo and Harbin winter festivals.
In snacks, Nongshim is working to place new products alongside flagship items such as Shrimp Crackers and Onion Rings in major U.S. retail channels, including Walmart and Costco. An export-dedicated production facility at its Noksan plant in Busan is scheduled for completion in the fourth quarter of this year.
Launched in 1986 under the leadership of the late honorary chairman and founder Shin Choon-ho, Shin Ramyun has topped Korea's instant noodle market since 1991. By the end of last year, cumulative sales had surpassed 42.5 billion packages, making it the industry's first product to exceed 20 trillion won in cumulative revenue. Overseas sales account for 40% of total revenue, placing the brand among the top five globally.
Nongshim plans to strengthen local responsiveness based on production bases in Los Angeles and in Shanghai, Qingdao and Shenyang, China, and will establish a sales subsidiary, "Nongshim Russia," in Moscow next month to target the European and Commonwealth of Independent States (CIS) markets. "Shin Ramyun's 40 years mark the starting point for an even bigger leap forward," Cho said. "Under the slogan 'Spicy Happiness in Noodle,' we will become a brand experienced alongside K-culture."
