Samyang Foods has once again achieved record quarterly results, fueled by strong overseas sales. The demand for the Buldak brand continues to thrive in global markets, supported by increased production capacity and favorable exchange rates, leading to improvements in both revenue and profitability.
On May 13, Samyang Foods announced that its consolidated revenue for the first quarter reached 714.4 billion won, with an operating profit of 177.1 billion won. This marks a 35% increase in revenue and a 32% rise in operating profit compared to the same period last year.
The overall performance was driven by international business. First-quarter overseas sales amounted to 585 billion won, a 38% increase from the previous year, accounting for over 80% of total revenue.
Notably, the European market saw significant growth. All overseas subsidiaries recorded double-digit growth rates, with European sales reaching 77 billion won, up 215% year-on-year. This surge is attributed to the expansion of local distribution networks following the establishment of a subsidiary in the UK and increased presence in mainstream channels in major Western European countries such as Germany and the Netherlands.
Growth trends also continued in the company’s largest export markets, the United States and China. Revenue from the U.S. subsidiary rose by 37% to 185 billion won, while the Chinese subsidiary reported a 36% increase, reaching 171 billion won.
Samyang Foods attributed its improved performance to increased supply capacity due to higher operational rates at its Miryang Plant 2. The increased production has helped meet the rising demand for Buldak products, particularly in the U.S. and Europe, contributing to overseas sales growth.
Profitability remained stable, with the operating profit margin for the first quarter at 24.8%, maintaining over 20% for five consecutive quarters.
A company representative stated, "Despite external uncertainties, this performance reaffirms the competitiveness and growth sustainability of the Buldak brand. We plan to focus on strengthening our global management system and expanding our production and sales infrastructure this year."
Meanwhile, to meet the growing global demand, Samyang Foods is establishing its first overseas production facility in Jiaxing, Zhejiang Province, China. The plant, with a total investment of 207.2 billion won, is expected to be completed by January 2027. It will feature eight production lines, capable of producing an additional 1.13 billion units of Buldak Bokkeummyeon annually once operational.
* This article has been translated by AI.
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