Samyang Foods to Set up Subsidiary in Shanghai in Dec.

Samyang Foods announced on Oct. 5 that it will establish Samyang Foods Shanghai Limited in Shanghai, China, in December, following the launch of Samyang America in Los Angeles in August.

China and the United States are Samyang Foods’ major markets that account for 45 percent and 15 percent of overseas sales, respectively.

Samyang Foods has won the grand prize of the “Korean Brands Selected by Chinese Consumers" for three consecutive years from 2019. Its sales in China exceed 100 billion won. In the United States, sales of Korean ramen are growing rapidly due to a recent rise in consumers’ recognition of Korean instant noodles and the spread of the COVID-19 virus. Samyang’s sales more than doubled on year in 2020.

Samyang’s U.S. and Chinese subsidiaries are sales corporations intended to strengthen local sales networks. Samyang America is planning to enter mainstream online and offline distribution channels. It has already completed its entry into Amazon, the world's largest online shopping mall.

Samyang Foods Shanghai Limited plans to diversify its business portfolio by introducing customized products that reflect the characteristics of the local market. It also plans to expand offline sales channels in the future.