Korean food makers step up overseas expansion

South Korean food makers are eyeing further overseas expansion to capitalize on rising demand and seek new revenue sources.

The US unit of South Korean instant noodle maker Nongshim Co. recorded sales of US$164 million in the first half for a 35 percent on-year gain s the COVID-19 pandemic triggered a demand for ready-to-eat meals.

Sales of Shin Ramyun, Nongshim's signature spicy instant noodle, reached around $48 million in the US for a 25 percent on-year increase.

Shin Ramyun Black, the premium variety with pot-au-feu flavors, had first-half sales surging 49 percent to $13.5 million.

Wirecutter, a product review website run by The New York Times, selected it as the best instant noodle.

Nongshim's popularity was partly bolstered by the Oscar-winning film "Parasite," where a noodle dish called Chapaguri, made of Nongshim's instant noodles, was featured.

Nongshim has been aggressive in expanding its presence in the United States and other global markets.

Southeast Asian countries and China have long been importing South Korean food brands, aided by Korean pop culture's popularity.

CJ Cheiljedang Corp., South Korea's largest food company, also exhibited a steady increase in global sales bannered by its Bibigo dumplings.

Last year, it sold 552 billion won worth of dumplings overseas, with the US market accounting for 363 billion won.