Korean ramen makers set sights on Latin America beyond US

Q: How long will it take to read this news story?

The story "Korean ramen makers set sights on Latin America beyond US" has 683 words across 34 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Korean ramen makers set sights on Latin America beyond US" was covered 5 hours ago by Korea Economic Daily, a news publisher based in South Korea.

Q: How trustworthy is 'Korea Economic Daily' news outlet?

Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news. The outlet is headquartered in South Korea and publishes an average of 2 news stories per day. It's most recent story was published 9 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22577020</li><li>URL: https://beamstart.com/news/korean-ramen-makers-set-sights-17266582934042</li></ul>

Korea Economic Daily Logo Korea Economic Daily 5h ago

Korean ramen makers set sights on Latin America beyond US - Korea Economic Daily

Quick Summary:

Nongshim Co.and Samyang Foods Co., South Korea’s two largest ramen makers, are ramping up production to create and meet demand for their spicy instant noodles in new markets such as Latin America, heralding an intensifying competition with Japanese peers.

In 2017, Nongshim overtook Nissin Foods to rise to the second spot after Toyo Suisan in the US ramen market in terms of market share.Nongshim controls 25.4% of the US ramen market as of 2023, with Toyo Suisan holding a 45.0% market share, according to Euromonitor and IBK Investment & Securities.

That will mark its first branch to be established in Latin America.“We’re actively considering expanding our operation in Central and South America, including Mexico, where the demand for ramen is expected to grow rapidly,” said a Nongshim official.