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Company type | Public |
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KRX: 003230 | |
Industry | Food industry |
Founded | 15 September 1961 |
Headquarters | Seoul, South Korea |
Area served | Worldwide |
Revenue | ![]() US$ 575 million |
Number of employees | 1,754 |
Website | https://roundsquare.ai |
Samyang Foods | |
Hangul | 삼양라운드스퀘어 |
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Hanja | 三養 |
Revised Romanization | Samyang Raundŭsk'weŏ |
McCune–Reischauer | Samyang Raundeuseukweeo |
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,pushed for the suspension of board directors with criminal records. [4]
In 2019,Samyang Foods established Samyang Japan,its first overseas sales unit. This expansion was motivated by Japan’s large ramen market,approximately $5.4 billion US dollars of ramen consumption. [5]
In 2020,Samyang Foods launched its new kimchi-flavored Buldak spicy noodles to meet consumer demand and interest 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% over the previous 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 US$1 billion 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 in compensation. [9]
On January 25,2019,Samyang chairman Jeon In Jang was sentenced to prison for 3 years for embezzling $5 billion Won (US$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]
In June 2024,Denmark recalled several spicy ramen noodle products after the Danish Veterinary and Food Administration assessed the levels of capsaicin in a single packet to be high enough to pose a risk of the consumer developing acute poisoning. [12]
Ramen is a Japanese noodle dish. 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.
Buldak is a South Korean spicy barbecued chicken dish.
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.
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.
Buldak Ramen 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.
Muroran curry ramen is a curry-flavored ramen noodle dish provided at many ramen restaurants in the cities of Muroran,Noboribetsu,Date,and Tōyako in Hokkaido,Japan.
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 jjajangmyeon (짜장麺) 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. It is one of Nongshim's leading brands,with sales greater than 200 billion won per year.
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 Noodles is a brand of cup instant ramen developed in 1971 and manufactured by the Japanese food company Nissin Foods. The product was first introduced in the United States as "Cup O' Noodles" in 1972,before being renamed to "Cup Noodles" in 1993.
Samyang Ramen (Korean: 삼양라면) is an instant noodle brand made by the South Korean company Samyang Foods. It was 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.