South Korea’s top instant noodle maker Nongshim Co. is considering building a new factory in the US, the Yonhap News Agency reported on March 24.
Shin Dong Won, Nongshim’s Chairman and CEO, told reporters after the company’s annual shareholder meeting earlier that day.
“We plan to address this issue later this year or early next year after a thorough review of sales trends., – he said. — We haven’t decided on a location yet, but if we do create one, we hope it will be in the eastern United States.”.
Nongshim currently operates two factories in California that have been open since 2005.
According to the company, Nongshim is currently the second largest player in the US instant ramen market since last year. Sales of nongshim instant ramen in the US more than doubled, from $225 million in 2018 to $490 million in 2022.
Regarding questions about Nongshim’s future business plans, the CEO said that he is considering expanding the business through “Alternative protein, healthy functional foods and smart farms”but he stressed that the company will maintain its focus on snack foods and instant ramen, two of Nongshim’s key products.
Source: Rossa Primavera
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