This article includes a list of general references, but it lacks sufficient corresponding inline citations .(February 2020) |
Company type | Public |
---|---|
KRX: 003230 | |
Industry | Food industry |
Founded | 15 September 1961 |
Headquarters | Seoul, South Korea |
Area served | Worldwide |
Revenue | 649 billion ₩ US$ 575 million |
Number of employees | 1,754 |
Website | https://roundsquare.ai |
Samyang Foods | |
Hangul | 삼양라운드스퀘어 |
---|---|
Hanja | 三養 |
Revised Romanization | Samyang |
McCune–Reischauer | Samyang Laundeuseukweeo |
Samyang Roundsquare Co.,Ltd. is an international South Korean food manufacturer and the first instant ramen company in South Korea. [1] Samyang was founded on September 15,1961 by Jeon Jung Yoon. In 1963,Samyang debuted the first Korean instant noodle.
In the early 1970s,Samyang Foods converted a 20 km2 Daegwallyeong forest into a grassland to raise livestock.
In 2010,Jeon In Jang became the company's chairman. The company is now placed third to fourth in the instant noodle market of Korea. Samyang Foods started exporting their products,increasing the company's profits. Recently,the company took over several restaurant chains to expand into the food service industry.
In 2012,Samyang Foods released its Buldak Spicy Chicken Ramen. The new Buldak Spicy Chicken flavor became popular in the YouTube community. [2]
In 2012,Samyang Foods along with several other companies in the Instant Noodles market,including Nongshim,Ottogi,and Korea Yakult,were fined by the Korean Fair Trade Commission for fixing instant noodles prices from 2001 to 2010. [3]
In 2019,Hyundai Development Co.,a large shareholder of Samyang Foods with 16.99% stake,pushes for the suspension of board directors with criminal records. [4]
In 2019,Samyang Foods establishes Samyang Japan,its first overseas sales unit. This expansion is due to Japan’s large ramen market,approximately $5.4 billion US dollars of ramen consumption. [5]
In 2020,Samyang Foods launches its new kimchi-flavored Buldak spicy noodles to meet consumer demands and interests in “fire noodles”. [6]
On March 19,2021,Samyang Foods Co. announced its sales reached a new high due to the increased demands for its instant noodles during the coronavirus pandemic. Samyang Foods Co.’s operating profit increased by 21.9% since last year. [7]
In the 1980s,Samyang Food began producing other products such as snacks,dairy products,and sauces. The demand for instant noodles in Korea increased,followed by increasing exports to Japan and the United States. In 1989,allegations arose that Samyang used unsafe industrial oil in their noodles. Although ultimately cleared of any wrongdoing,this scandal harmed the company's reputation,and contributed to ending its dominance in the instant noodle market.
In 2018,Samyang Foods Co. reached an agreement with its U.S. subsidiary,Samyang USA,to resolve a nearly $1 billion US dollar legal battle. Samyang USA paid $4.1 million in reparation. [8]
In 2019,the settlement of two class actions against Defendant Samyang Foods Co. have been approved by the Supreme Court of British Columbia and the Superior Court of Justice of Ontario. Terms of settlement include that Samyang Foods pay $288,586.98 dollars in compensation. [9]
On January 25,2019,Samyang chairman Jeon In Jang was sentenced to prison for 3 years for embezzling $5 billion Won (USD $4.43 million) of his company's funds. [10] His wife and CEO of Samyang,Kim Jung-soo,was given a 2-year prison term,albeit suspended for 3 years,on the same charges. [11] Since Jeon's imprisonment,Kim has assumed her husband's leadership duties. [10]
Ramen is a Japanese noodle dish of Chinese origin. It consists of Chinese-style wheat noodles served in a broth;common flavors are soy sauce and miso,with typical toppings including sliced pork,nori,menma,and scallions. Ramen has its roots in Chinese noodle dishes and is a part of Japanese Chinese cuisine. Nearly every region in Japan has its own variation of ramen,such as the tonkotsu ramen of Kyushu and the miso ramen of Hokkaido.
Nissin Foods Holdings Co.,Ltd. is a Japanese food company. Founded by Momofuku Ando in 1948 in Izumiōtsu,Osaka,it owns Nissin Food Products,Nissin Chilled Foods,Nissin Frozen Foods,and Myojo Foods. It is known for development of the world's first marketed brand of instant noodles Chicken Ramen and products like Cup Noodles,Yakisoba U.F.O.,and Demae Iccho.
Cup Noodles is a brand of cup instant ramen developed in 1971 and manufactured by Japanese food company Nissin Foods. Single servings of the product are packaged in foam,plastic,or paper cups and are prepared by adding boiling water.
Nongshim Co.,Ltd. is a South Korean multinational food and beverage company headquartered in Seoul,South Korea. Nongshim was founded in 1965 under the name Lotte Food Industrial Company. The name was changed to Nongshim in 1978.
This article is about the chicken dish,for the instant noodles,see Buldak
Mr. Noodles is the brand name of a Canadian instant noodles product,dating back to the 1970s. Imported by Anderson Watts Ltd. of Vancouver and manufactured by partner Beltek Foods of Huizhou,China,the Mr. Noodles brand is sold in packages the same size of traditional ramen. Mr. Noodles is sold in instant ramen packs,instant ramen cups or instant ramen bowls. It is sold at grocery and convenience stores,and sometimes in vending machines.
Shin Ramyun is a brand of instant noodle that has been produced by the South Korean food company Nongshim since 1 October 1986. It is now exported to over 100 countries,and is the best-selling instant noodle brand in South Korea.
Ottogi Corporation is a food manufacturing company headquartered in Anyang,South Korea. Ottogi Center is located in Seoul and is listed on the KOSPI 200.
The Sahmyook Foods is a Seventh-day Adventist Church food company in South Korea that produces a large range of soy milks as well as a range of vegetarian products. Sahmyook Foods owns three factories,the oldest being in Choongnam;the second being in Wanju-gun,Jeonbuk and the third being in Bonghwa-gun,Kyungbuk. Sahmyook Foods has received five management awards since 2004. 60% of Sahmyook Foods market is in the United States,while 40% of its market is in Korea.
Hot Chicken Flavor Ramen or buldak-bokkeum-myeon is a South Korean brand of instant noodle,produced by Samyang Foods since April 2012.
Neoguri is a brand of ramyun produced by Nongshim in South Korea since 1982. It is exported to over 80 countries,and is the fourth highest selling brand of noodles in South Korea. It is well known for its thick noodles and its spicy seafood flavour. The Korean version has a big piece of kombu,while the U.S. version does not have the kombu in it.
Chapagetti is a brand of ramyeon produced by Nongshim. It was first released in South Korea on March 19,1984. Chapagetti is the first instant noodle product to resemble jajangmyeon in South Korea and is the second highest-selling brand of instant noodles in South Korea,behind Shin Ramyun. Its name is a portmanteau of jajangmyeon and spaghetti. In 2012,sales of Chapagetti reached 159.5 billion won with 88% of market share.
Ansungtangmyun is a brand of ramyeon produced by Nongshim in South Korea since 1983,and is the third highest-selling brand of noodles in South Korea. It is made with beef stock from cows in Anseong. In 1992,V Anseongtangmyeon and in 1996,Shrimp Anseongtang-myeon was launched. On June 22,2005,Anseongtang noodles bowl made of pop-shaped container noodles was released,but it was discontinued due to sluggish sales,and 66g Anseongtang noodles cup was released on September 11,2010. On September 10,2018,to mark the 35th anniversary of the sale of Anseongtangmyeon,a new seafood Anseongtangmyeon was launched.
Cup noodle is a registered trademark of Nissin Foods and is known as precooked instant noodles with flavoring powder and/or seasoning sauce sold in a polystyrene,polyethylene,or paper cup. The flavoring can be in a separate packet or loose in the cup. Hot water is the only ingredient that is needed separately. Cooking takes 3–5 minutes. Now,many kinds of precooked instant noodle have been consumed around the world,as a popular staple.
Samyang Ramen (Korean: 삼양라면) is an instant noodle brand made by the South Korean company Samyang Foods. It is the first instant ramen brand to be sold in South Korea.
Jjapaguri or Chapaguri,also known in English as ram-don,is a South Korean noodle dish made by a combination of Chapagetti and Neoguri,two types of instant noodles produced by Nongshim. Irene Jiang of Insider described it as "comfort food". University of California East Asian studies professor Jennifer Jung-Kim described it as,as paraphrased by Sarah Coughlin,"a budget comfort food",and Coughlin herself described it as 'a uniquely Korean dish".
Shin Dong-won is a South Korean businessman. He is the chairman and CEO of South Korean food and beverage conglomerate Nongshim.
Binggrae Co.,Ltd.,is a South Korean food and beverage corporation that manufactures ice cream,milk products,and snacks. Binggrae was founded in 1967 by Hong Soon-ji as Daeil Corporation. The B in the Binggrae Logo is modeled after a heart.