South Korea's Instant Noodle Exports Hit Record $100M in April
South Korea's instant noodle exports achieved a milestone in April, surpassing the $100 million mark for the first time, recording a significant 46.8 percent increase from the previous year. The Korea Customs Service (KCS) reported that the total exports amounted to $108.6 million, marking the highest monthly growth since May 2022. This surge is attributed to the global rise in popularity of Korean culture, including movies, dramas, and music, as well as the increased demand for affordable, convenient food options amidst rising inflation.
The upward trend in ramyeon exports has been consistent since 2015, and the KCS projects that the total exports could exceed $1 billion for the year if the current trajectory continues. Contributing to this growth is Samyang Foods Co., a major South Korean instant noodle maker, which experienced a 57 percent increase in sales to 385.7 billion won ($284.5 million) in the first quarter. The popularity of Korean content featuring ramyeon and the appeal of Korean food culture have played a significant role in boosting international demand for these products.
