Exports of instant noodles surpass US$800 mln in Jan.-Aug.

South Korea's exports of instant noodles, also known as ramyeon, were estimated to have reached US$800 million in the first eight months of this year, data showed Wednesday. The figure represents a 31.7 percent hike from the January-August period of last year, according to data compiled by the Ministry of Agriculture, Food and Rural Affairs. By country, outbound shipments to China grew 26.9 percent on-year to $160 million and exports to the United States jumped 61.5 percent to $140 million, mainly driven by the global popularity of Korean instant noodles. Exports to the Netherlands also soared 58.3 percent to $60 million and outbound shipments to Britain and Germany surged 64.9 percent and 47.4 percent, respectively. Officials from major ramyeon companies, including Nongshim Co. and Samyang Foods Co., said they will work to further expand their foothold in overseas market, in particular in the U.S. and Europe, in the fourth quarter. Nongshim plans to establish a sales unit in Europe early next year and Samyang is constructing a new manufacturing plant in Milyang, about 280 kilometers southeast of Seoul, for exports. Source: Yonhap News Agency