"Earned KRW 2.1 billion a day"... K-company's staggering results have foreign consumers hooked

Samyang Foods posts record Q3 operating profit of KRW 196.2 billion
Operating profit rises 49.9% year over year
Overseas revenue reaches KRW 660.8 billion, up 29.4%
Overseas sales of the "Buldak" brand continue to grow

Samyang Foods posted strong results in the third quarter of this year, driven by its Buldak brand, which continues to gain popularity in overseas markets.

Samyang Foods disclosed on November 6 that its consolidated operating profit for the third quarter was provisionally tallied at KRW 196.2 billion, up 49.9% from the same period a year earlier. Revenue for the same period rose 25.3% to KRW 791.8 billion.

Overseas revenue, in particular, rose 29.4% from the same period last year to KRW 660.8 billion, a record high for a single quarter, driving overall growth. The company said the increase reflected its response to rising overseas demand by expanding its global distribution network and improving the operating efficiency of domestic production facilities, including its Miryang plant.

Sales of the Buldak brand, the company’s flagship product, continued to grow in overseas markets even after cumulative sales surpassed 10 billion units in the second quarter. Among key regions, growth was especially strong at its U.S. and China subsidiaries. The U.S. subsidiary posted revenue of KRW 212.5 billion, up 36.6% from a year earlier, with continued growth in sales through major channels such as Walmart and in sales to Mexico. The China subsidiary recorded revenue of KRW 208.9 billion, up 13.2% year over year. Expanding its snack channels helped broaden its sales base. In Europe, revenue rose 65.5% from the same period a year earlier to KRW 86.9 billion as demand for its products grew.

Samyang Foods' Buldak Bokkeum Myeon on display at a large supermarket in downtown Seoul. Yonhap News

Along with revenue growth, the company also maintained stable profitability. Its operating margin in the third quarter was 24.8%, marking a seventh consecutive quarter in the 20% range. The company said improvements in its channel mix, following the upgrading of its distribution network in key markets, helped protect its results and maintain profitability.

A Samyang Foods representative said, "We continued to grow exports by expanding our distribution network in key markets such as the United States and China." The representative added, "We plan to respond steadily to overseas demand by improving the operating efficiency of domestic production sites, including the Miryang plant, and by systematizing our global distribution infrastructure."

This content was produced with the assistance of AI translation services.