For the first time, South Korea has achieved a milestone as its ramen exports surpassed 1 trillion won ($780 million). This achievement coincides with the 60th anniversary celebration of Korean ramen, marking six decades of the country’s iconic instant noodle.
Taking into account the production and direct sales from international facilities operated by ramen companies, the estimated actual global export value is believed to have exceeded 2 trillion won.
According to trade data published by the Korea Customs Service on Monday, ramen exports from January to October this year amounted to $785.25 million, indicating a 24.7% surge compared to the corresponding period in the previous year.
When converted at an exchange rate of 1,300 won per dollar, the value translates to 1.02 trillion won, marking the first time ramen export value has surpassed 1 trillion won.
With the two remaining months in the year, the anticipated annual export value for this year is expected to range between 1.2 and 1.3 trillion won.
This marks a new record for the ninth consecutive year since 2015.
The ramen export volume between January and October of this year totaled 201,363 tons, indicating a 13.9% rise compared to the corresponding period last year.
Although this figure remains below last year’s annual export volume of 215,953 tons, it is anticipated to establish a new record considering the remaining two months.
Regarding ramen export value by country between January and October this year, China claimed the top spot with $174.45 million, followed by the US at $170 million, Japan at $48.66 million, the Netherlands at $48.64 million, Malaysia at $39.67 million, and the Philippines at $30.9 million.
Australia secured $30.16 million, Thailand attained $30.07 million, the UK reached $29.8 million, and Taiwan garnered $28.13 million, placing them within the top ten ramen export destinations.
The global popularity of Korean ramen can be credited to its acknowledgment as a convenient and budget-friendly meal choice amid the COVID-19 pandemic.
The ascent of Korean ramen’s popularity is also attributed to the success of the 2020 film Parasite, which clinched four Academy Awards, including Best Picture.
The movie Parasite highlights Chapaguri, a combination of Nongshim’s Chapagetti and Neoguri, further intensifying interest in Korean ramen flavors.
Moreover, with the ongoing global dissemination of Korean cultural content, there is a growing fascination with K-food, including ramen.