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South Korea’s top instant noodle brand, Nongshim, is making a bold move into Europe by setting up a subsidiary in the Netherlands next month. The company sees Amsterdam as the perfect gateway to the continent, thanks to its extensive land transport network and the high-traffic Port of Rotterdam. With Europe’s growing appetite for ramyeon—boasting a market value of $2 billion in 2023 and an impressive 12 percent annual growth since 2019—Nongshim is seizing the opportunity to establish a stronger foothold.
The company has ambitious plans, aiming to quadruple its European sales by 2030, after recording $84 million in sales last year. Already a global powerhouse, Nongshim generates 40 percent of its ramyeon revenue outside Korea, with key markets including the U.S., China, and Japan. Its signature products, such as Shin Ramyun, Chapagetti, and Neoguri, are enjoyed worldwide, supported by a strong production network of six domestic and six overseas plants. With this new expansion, Nongshim is positioning itself as a dominant player in the European instant noodle scene.
However, despite its global success, Nongshim faced some financial challenges in 2024. The company’s net profit dipped 8.1 percent, settling at 157.63 billion won, impacted by rising costs and declining demand. Operating profit also took a 23 percent hit, although overall sales saw a modest 0.8 percent increase, reaching 3.44 trillion won. With its European expansion strategy in motion, Nongshim is betting on sustained international growth to counterbalance these setbacks and fuel its long-term success.
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(Source: Korea Herald | Chosun Biz)
