Samyang sells more overseas than domestically on spicy noodle hit

Samyang Foods, the manufacturer of the globally popular Buldak Spicy Chicken noodles, saw its revenue from overseas surpass domestic sales last year, industry sources said Tuesday.

Last year, Samyang Foods recorded total sales of 535 billion won ($455 million), and exports surpassed domestic sales by 5 billion won.

It is the second time a South Korean food manufacturer has sold more of its products overseas than in the domestic market, the first being Choco Pie from Orion Corp.

The food manufacturer faces a positive outlook this year, as it marked the biggest exports in the second and third quarter of 2019 and experienced continued growth in the fourth quarter.

Samyang Foods set its own sales record Nov. 11 last year, Singles’ Day in China, with its revenue that day reaching 4.4 billion won or 22 times the daily average of 200 million won.

The company’s spicy chicken ramen brand is the major source of sales in foreign markets, accounting for 80 percent of the total.

The brand’s accumulated sales reached 1 trillion won as of July last year, seven years after its launch, according to the company.

By Jo He-rim (herim@heraldcorp.com)