Hot profits: Buldak boom turns South Korea's Samyang Foods into a US$7.3b snack daddy
SEOUL, June 29 — Samyang Foods, the company behind the wildly viral Buldak spicy ramyeon, has officially joined the big leagues — crossing 10 trillion won (RM30.9 billion) in market capitalisation for the first time, powered by fiery noodles and a global cult following.
According to Yonhap, the Korean Exchange (KRX) said the stock closed Friday at 1,334,000 won a share, putting Samyang in 54th place among listed firms by market value.
That's more than double where it stood a year ago — and nearly 33 times what it was worth back in 2016, when shares traded at just 40,000 won.
What's fuelling the rocket ride? A potent mix of overseas demand, viral 'fire noodle' challenges, and an appetite for pain — all of which have turned Buldak into one of K-food's hottest exports.
Sales hit 1.73 trillion won in 2024, up 45 per cent year-on-year, with international markets accounting for a staggering 77 per cent of total revenue. The US and China are Samyang's top overseas fans, with the heat-seeking trend still burning bright.
To keep up, Samyang has expanded one of its three domestic plants and will break ground on its first overseas factory in China next month. The brand is already active in Japan, Indonesia, the Netherlands and the US.
Analysts are expecting the firestorm to continue. Brokerage projections show Q2 operating profit could jump 51 per cent year-on-year to 135.2 billion won, while sales are forecast to rise 31 per cent to 554.6 billion won.
Once a local noodle name, Samyang is now a sizzling global player — proving that pain, at least in food, really does pay.
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