South Korean ramen exports nearly reached US$1 billion last year. According to the Ministry of Agriculture, Food and Rural Affairs on Jan. 17, ramen exports stood at US$952.4 million last year and marked a whopping increase of 24.4 percent compared to the previous year. Ramen exports have been consi
This year marks the 60th anniversary since the release of ramen in Korea, and its export revenue has exceeded 1 trillion won for the first time in history.According to the trade statistics from the Korea Customs Service on Dec. 10, the export revenue of ramen from January to October this year reache
The export revenue of ramen, which celebrates its 60th anniversary this year, has surpassed 1 trillion won for the first time in history.According to trade statistics from the Korea Customs Service on Nov. 20, the export revenue of ramen for the first 10 months of this year reached US$785.25 million
During President Yoon Seok-yeol’s state visit to Saudi Arabia, a total of 46 memoranda of understanding (MOUs) and contracts were signed at the 2023 Korea-Saudi Investment Forum. This signifies a boost in economic cooperation between the two nations across various industries, including electric vehi
From January to July this year, the accumulated export value of ramen surpassed US$500 million for the first time, marking a historic high for the period. The success and popularity of K-content such as dramas and movies are believed to have contributed to this growth.According to the Korea Agro-Fis
According to the Korea Agro-Fisheries & Food Trade Corporation (aT) and the Korea Customs Service on July 26, the annual ramen export value last year increased by 13.5% compared to the previous year, amounting to US$765.43 million (945.3 billion won).When adding the sales from overseas local factori
The author is an analyst for Shinhan Securities. He can be reached at sanghoonpure.cho@shinhan.com -- Ed.Defensive plays lack luster in unfavorable external conditionsOver the past two years, key investment points for the food/beverage sector have been price hikes, grain price declines, and the subs
On July 1, Nongshim Chairman Shin Dong-won, who celebrated his second anniversary in office, announced a goal to achieve an annual sales target of US$1.5 billion in the U.S. market by 2030, which is three times the current level, and ascend to the number one spot in the ramen market, through an emai
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.In 2H23, the F&B sector is projected to enjoy robust earnings growth, backed by margin spread expansion. In response to steeply rising prices of raw materials in 2022, major F&B firms have hiked ASPs.
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We raise our TP on Nongshim to W510,000. Thanks to a combination of stable domestic earnings and strong performances at overseas subsidiaries, the firm’s quarterly earnings continue to surprise. We exp
Nongshim announced on May 15th that it recorded consolidated sales of 860.4 billion won (US$760 million) and an operating profit of 63.8 billion won (US$56 million) in the first quarter of 2023. This represents a growth of 16.9% in sales and 85.8% in operating profit compared to the same period last
Nongshim Baeksansoo received the Grand Gold Prize, the highest possible award, from the world-renowned Belgian Monde Selection in recognition of its quality and excellence.Monde Selection is a consumer goods quality evaluation institute founded in Belgium in 1961. It verifies the quality of products
The author is an analyist of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.We raise our TP on Nongshim to W430,000. The firm’s sales growth is looking sound both at home and overseas, and its cost burden should ease towards 2H23.Raise TP to KRW430,000We raise our TP on Nongsh
Saudi Arabia’s Ministry of Investment held an MOU signing ceremony for a strawberry smart farm project between a consortium consisting of four Korean companies, including Nongshim, and a local Saudi Arabian company on March 12 (local time).Nongshim will export smart farms to Saudi Arabia after the U
Last month, Nongshim’s Shin Ramyun Black Tofu Kimchi Bowl Noodles were suspended from retailing in Taiwan and Thailand due to the detection of harmful substances in them. Nongshim said that contrary to media reports, the products did not contain carcinogens. But as consumer groups have insisted that
Harmful substances have been detected in some of Nongshim's Shin Ramyun products exported to Taiwan.The Taiwan Food and Drug Administration (TFDA) announced on Jan. 17 that harmful pesticide residues were detected in a bowl of Shin Ramyun Black Tofu Kimchi and called the product unsuitable for i
Nongshim announced on Nov. 30 that its sales in North America are expected to reach a record high this year at US$486 million, up 23 percent from the previous year.Nongshim’s big growth in the North American market this year has been driven by its second plant in the United States, which started ope
Nongshim Co., the No. 1 player in the domestic ramen market, is setting its sights on the global market. The company is developing instant noodle products that can fascinate consumers in overseas markets.The Korean ramen market in the third quarter amounted to 1,473.4 billion won, up 4.5 percent fro
The authors are analysts of Shinhan Investment Corp. They can be reached at sanghoonpure.cho@shinhan.com and yk.cho@shinhan.com, respectively. -- Ed. Food/beverage companies rush to hike prices againFacing high raw material prices and a strong USD, food/beverage companies are moving ahead with anoth
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY, target price of KRW360,000 We maintain BUY on Nongshim and our TP of KRW360,000. 2Q22 earnings should miss the market consensus on growing raw material/logistics costs. However, we forecast the