Otoki, a major Korean food company, said Monday it has established a branch in Tokyo ahead of its planned operation in September as part of its ongoing effort to expand its presence around the world.
Korea's food exports increased nearly 5 percent from a year earlier in the first four months of this year, mainly driven by strong global demand for Korean instant noodle products and fruits.
Korea’s leading instant noodle maker, Nongshim, plans to strengthen its flagship brand Shin Ramyun’s global presence by introducing a rosé version and launching new marketing campaigns as the brand marks its 40th anniversary this year.
Buldak Ramen instant noodles, or ramyeon, were once dismissed as too spicy to eat. Now, Samyang Foods has turned it into one of Korea’s most successful global food brands.
Exports to the Middle East fell by more than 40 percent in one month, from $8.3 million in February to $4.92 million in March, according to the Korea Agro-Fisheries & Food Trade Corporation.
Food company Paldo said Monday it has partnered with K-pop boy band BTS to launch a new line of ramyeon products in the United States next week as part of its global expansion strategy.
Nongshim, Korea's leading instant noodle maker, said Wednesday it will establish a subsidiary in Russia in June as part of its strategy to expand into the Eurasian market.
The war in Iran, now into its fourth week, is taking a toll on businesses in Korea, with the fallout feeding into so-called warflation as food prices and living costs rise.
It started with gas stations. Now it may hit supermarkets. The fallout of the Iran war is inching closer to everyday life in Korea, with the production of staples such as ramyeon on the brink of catastrophic disruption if the Hormuz crisis drags on.
President Lee Jae Myung urged aides on Thursday to swiftly prepare a supplementary budget to help with economic recovery and people's livelihoods amid concerns over the repercussions of the intensifying Middle East crisis.
Korea JoongAng Daily Sitemap
