Yonhap News Agency, Seoul, February 14 According to news from the Korean Customs Service (Customs) and the food industry on the 14th, Korean instant noodle exports in 2020 amounted to US$606.2 million, a year-on-year increase of 29.3%, a record high.
From the perspective of export target countries and regions, exports to China accounted for 150 million U.S. dollars, accounting for 24.7%, followed by the United States (82 million U.S. dollars), Japan (5,500 U.S. dollars), and Thailand (270 billion U.S. dollars) , Philippines (240 billion US dollars).
Considering that some food companies set up factories overseas to directly produce and sell, the sales of Korean instant noodles overseas will actually be greater. Nongshim has factories in the U.S. and China, producing and selling Shin Ramyun, Udon Noodles, Olive Oil Jjajang Noodles and other products. Food company Badao has instant noodle factories in Russia and Vietnam. Nongshim said that according to preliminary statistics, last year’s instant noodle exports were US$349.5 million, the US branch sold US$326 million, and the Chinese branch sold US$315 million. In other words, Nongshim’s global instant noodle sales reached US$990.5 million.
Affected by the new crown epidemic, home anti-epidemic has become normal. Korean instant noodles are attracting attention as a home-made anti-epidemic food. In addition, Korean instant noodles appeared in the Oscar-winning film”Parasite”, thereby raising people’s attention to Korean instant noodles.
South Korea’s import of instant noodles last year was only 4.68 million U.S. dollars, which is far from the export value. (End)