South Korean meals firm Nongshim is planning to speculate $143m in a “Okay-Meals hub” within the southern metropolis of Busan. The transfer is a part of a drive among the many nation’s largest meals producers to capitalise on ever-rising world demand for dehydrated Korean ready-meals.
The export-only plant will make Shin Ramyun, a form of prompt noodles that Nongshim has been making since 1987, in addition to its shut family members Neoguri and Chapagetti.
The corporate introduced on Sunday that it could break floor on the manufacturing unit within the first half of subsequent yr, with plans to start full-scale operations within the second half of 2026.
The 51,000 sq m facility shall be constructed on a vacant lot adjoining to its present manufacturing unit within the Noksan Nationwide Industrial Complicated, one in all six within the Korean peninsula. The development prices are to be met by issuing bonds.
It is going to have three state-of-the-art manufacturing strains able to producing 500 million packs of ramyun yearly, matching the output of its present Busan manufacturing unit. The surge in demand prompted Nongshim so as to add manufacturing strains to that plant over the previous two years, however the firm has now determined a devoted export facility is critical
When full, Nongshim will have the ability to export 2.7 billion packs of dried noodles a yr. This contains the corporate’s US and China subsidiaries, which produce 1 billion and 700 million packs a yr respectively.
When mixed with home manufacturing, Nongshim’s complete capability will exceed 6 billion packs.
Nongshim additionally plans to determine a European subsidiary in early 2025 in addition to increasing into South America, Africa, and Oceania.
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