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Samyang Foods
Samyang Roundsquare Co., Ltd. (Korean: 삼양라운드스퀘어) is an international South Korean food manufacturer and the first instant ramen company in South Korea. 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 its 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.
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.
In 2019, Hyundai Development Co., a large shareholder of Samyang Foods with a 16.99% stake, pushed for the suspension of board directors with criminal records.
In 2019, Samyang Foods established Samyang Japan, its first overseas sales unit. This expansion was motivated by Japan's large ramen market, approximately US$5.4 billion of ramen consumption.
In 2020, Samyang Foods launched its new kimchi-flavored Buldak spicy noodles to meet consumer demand and interest in "fire noodles".
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Samyang Foods
Samyang Roundsquare Co., Ltd. (Korean: 삼양라운드스퀘어) is an international South Korean food manufacturer and the first instant ramen company in South Korea. 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 its 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.
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.
In 2019, Hyundai Development Co., a large shareholder of Samyang Foods with a 16.99% stake, pushed for the suspension of board directors with criminal records.
In 2019, Samyang Foods established Samyang Japan, its first overseas sales unit. This expansion was motivated by Japan's large ramen market, approximately US$5.4 billion of ramen consumption.
In 2020, Samyang Foods launched its new kimchi-flavored Buldak spicy noodles to meet consumer demand and interest in "fire noodles".