Frozen gimbap, Buldak spicy noodles honored at presidential dinner for export growth

Buldak spicy noodles are displayed outside the presidential office in central Seoul during a presidential event to recognize and reward the country’s small and medium-sized companies with outstanding exports, Thursday. Yonhap

Frozen gimbap and Buldak spicy noodles, which have been spearheading the country’s food exports since last year, were served to diplomatic envoys here and heads of the country’s biggest conglomerates who attended a presidential event for the country’s small and medium-sized companies (SMEs), Thursday, according to the Ministry of SMEs and Startups and the Korea Federation of SMEs (KBIZ), Friday.Frozen gimbap made by Allgot and Samyang Foods’ signature instant noodles were served as part of the dinner for the event that was hosted jointly by the ministry and KBIZ at the presidential office in central Seoul.Ambassadors from 12 countries including Japan, Saudi Arabia, the United Arab Emirates, Qatar and Kuwait, and the chairmen of Samsung, LG, POSCO, Hanwha, HD Hyundai and Shinsegae groups tasted the foods. The country’s 11 ministers and representatives of local SMEs here also participated in the event that recognized and rewarded SMEs in diverse industries for their outstanding exports.Allgot first signaled the global rise of gimbap last year when its frozen gimbap exported to the United States stirred the local food market and began selling out. The SME based in Gumi, North Gyeongsang Province, had to expand its pipeline to meet the rising demand at major U.S. retail supermarket chains including Trader Joe’s. The popularity of Allgot’s gimbap, sold under the label Baba Gimbap, spread to Korea and prompted major retail chains here like E-Mart to introduce the products.

“We’re currently talking to companies in Australia and Japan looking to buy our gimbap,” said an Allgot official who attended the event with the company CEO Lee Ho-jin. “We must expand our manufacturing capacity fast, as the demand from the U.S. and domestic retail firms is already pushing us to work around the clock.”Buldak spicy noodles were the main contributor to Samyang’s sales in the first quarter of this year. Samyang America registered $56.5 million in sales, up 209.8 percent from the previous year, with the products available at major U.S. retail chains including Walmart and Costco. Samyang Foods Shanghai in China registered 500 million yuan ($68.9 million), up 194 percent from the previous year.Thanks to Buldak’s globally growing presence, Samyang’s overseas sales during the first quarter accounted for 75 percent of its overall sales, up from 64 percent last year. The company’s operating profit for the period reached 80.1 billion won ($58.5 million), up 235 percent from the previous year.At the 35th annual event, KBIZ Chairman Kim Ki-mun invited President Yoon Suk Yeol to visit KBIZ’s office in Seoul and discuss further improvements to the country’s 카지노사이트킹 regulations to support SMEs with stronger exports.

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