[Edaily Reporter Kim Ji-woo ] The growth focus of South Korea’s three major instant noodle companies is rapidly shifting overseas. SamyangFoods(003230)generated 88% of its noodle and snack sales from exports, while Nongshim(004370)saw sales at its overseas subsidiaries increase by more than 20%. Ottogi(007310)is also accelerating its push into the global market, with its overseas sales growth rate significantly outpacing that of the domestic market.

According to the Financial Supervisory Service’s electronic disclosure system on the 17th, SamyangFoods’ revenue for the first half of this year rose 37.2% to 1.4847 trillion won, while operating profit increased 39.1% to 353.3 billion won. During the same period, Nongshim’s consolidated revenue rose 7.3% year-over-year to 1.8901 trillion won, and operating profit increased 31.7% year-over-year to 126.7 billion won. OTOKI’s revenue rose 4.2% to 1.899 trillion won, while operating profit increased 2% to 104.6 billion won.

Instant noodles, considered a quintessential K-food, played a major role in their growth. At Nongshim, instant noodles account for 85.9% of total revenue, while at SamyangFoods, noodles and snacks make up 90.6%. For OTOKI, the figure stands at 28.8%.

Among the three companies, SamyangFoods posted the steepest growth rate. In the first half of this year, sales of noodles and snacks reached 1.3449 trillion won, a 36.5% increase from 984.9 billion won in the same period last year. This growth rate is similar to that of the company’s overall revenue. In effect, the expansion of the noodle business—centered on Buldak Bokkeum-myeon—has driven the company’s overall growth. Notably, exports accounted for 88% of noodle and snack sales, totaling 1.1832 trillion won. This represents a 41.7% increase compared to the same period last year. Domestic sales reached 161.7 billion won, a 7.9% increase from the same period last year. Notably, SamyangFoods’ second-quarter overseas sales totaled 645.8 billion won, surpassing the 600 billion won mark for the first time in a single quarter. This is the result of sustained global demand, as evidenced by the Buldak brand’s cumulative sales exceeding 1 billion units by the end of May.

Nongshim’s first-half instant noodle sales totaled 1.6227 trillion won, accounting for 85.9% of its total revenue. Overseas markets were the primary driver of Nongshim’s growth. While domestic subsidiary sales decreased by 0.5% to 1.2487 trillion won, overseas subsidiary sales increased by 26.8% to 641.4 billion won. In China, the company expanded its presence in new offline distribution channels, while in the U.S. and Canada, growth was driven by sales through mainstream distribution channels, the expansion of the Shin Ramyun brand lineup, and the effects of last year’s price adjustments. In Japan, sales of products such as Shin Ramyun Tumba also increased, and in Europe, revenue expanded primarily in Western Europe, including the United Kingdom.

Although OTOKI’s reliance on instant noodles is relatively low, its noodle business also continued to grow. Sales of noodle products—including instant noodles, glass noodles, and other noodles—totaled 548.8 billion won in the first half of the year, a 4.4% increase from the same period last year. The company cited rising sales of cup noodles in the domestic market and increased exports as key factors driving first-half revenue growth.

The search for growth drivers overseas continues. Nongshim, having established sales and production bases in the U.S., China, Japan, Australia, Vietnam, and Europe, established a new subsidiary in Russia this past June. OTOKI also established a sales subsidiary in Japan this past May, following its existing operations in the U.S., Vietnam, New Zealand, and China. SamyangFoods, having established local bases in the U.S., China, Japan, Indonesia, Europe, and Singapore, established a sales subsidiary in the U.K. earlier this year.

A SamyangFoods official stated, “Despite global economic uncertainty, we have achieved solid performance by further solidifying our growth structure centered on overseas operations,” adding, “We will continue to grow by strengthening the roles of our overseas subsidiaries in each region and our domestic and international production infrastructure to support global demand.”