[News Space=Reporter seungwon lee] Nongshim is establishing a European corporation and establishing a business base to conquer the European market.

Nongshim announced that it will establish a European corporation, Nongshim Europe BV, in Amsterdam, the Netherlands in March. The Netherlands, where Nongshim’s European corporation will be located, has the Port of Rotterdam, which is the largest in terms of cargo volume in Europe, and also has excellent railway and land transportation networks connected to the port, making it a country with excellent logistics infrastructure targeting all of Europe.

Nongshim's decision to establish a European corporation is due to the growth and diversity of the European market. The European ramen market is expected to be worth about $2 billion as of 2023, and is growing rapidly, with an average annual growth rate of 12% over the past five years (2019 to 2023).

During the same period, Nongshim's European sales grew by an average of 25% annually, and consumer interest and purchases are increasing significantly. In particular, sales in 2024 are expected to grow by approximately 40% year-on-year, increasing the need to establish a corporation for aggressive market management.

Additionally, the European ramen market has diverse tastes and demands, to the extent that the number one brand varies from country to country.

A Nongshim official said, “Not only spicy ramen such as Shin Ramyun and Shin Ramyun Tumba, but also Nongshim’s product lineup with various flavors is expected to be effective in conquering the European market,” and “We will achieve our sales target of 300 million dollars by 2030 through a two-track strategy of expanding the presence of our main products and developing products tailored to the local food culture.”

Nongshim's strategy is to expand sales of its major brands, including Shin Ramyun, in key European distribution channels such as Tesco (UK), Rewe (Germany), Albert Heijn (Netherlands), and Carrefour (France and across Europe) in order to advance into the European market.

In addition, we will review product launches that suit the tastes of consumers in each country in consultation with large distributors in the future, and we will also quickly launch new products that have gained popularity in Korea in line with the growing interest in K-food in Europe.

Meanwhile, Nongshim will establish a 'Noksan Export-Only Factory' in Busan to cope with the growing global demand. Starting in the second half of 2026, when the Noksan Export-Only Factory begins full operation, Nongshim will have the largest global supply capacity in Korea, with an annual capacity of 2.7 billion units.