Nongshim Shin Ramyun. (Photo = Yonhap News)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] Nongshim announced on the 14th that it recorded sales of 3.4,106 trillion won and operating profit of 2,121 billion won last year.

Sales and operating profit rose 9% and 89.1% from the previous year. The operating profit ratio was 6.2%, a sharp increase from 3.2% in 2022.

Nongshim explained that overseas businesses centered on Shin Ramyun continued to perform, and new products introduced in Korea also received positive responses in the market, and both sales and operating profit reached a record high.

In particular, Nongshim's overseas operating profit rose about 125% year-on-year, driving overall profit improvement.

With the operation of its second plant, the U.S. subsidiary saw its sales and operating profit rise 10.4% and 131.4%, respectively, as sales at local retailers expanded.

During the same period, sales at Chinese subsidiaries fell 4.1 percent, but operating profit rose 411 percent. It is the result of the transition to profit-oriented management in response to the sluggish domestic economy.

In addition, domestic exports also increased, earning about 37% of total sales and more than 50% of operating profit from abroad.

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