[Alpha Biz= Reporter Kim Jisun] A representative from Samyang Foods stated, "We established the European subsidiary in the Netherlands due to its well-developed infrastructure for trade, investment, information, and services, which will enhance logistics efficiency across the European market."
This new European subsidiary is Samyang Foods' fifth overseas operation, following those in Japan, China, the United States, and Indonesia.
Samyang Foods plans to use its European subsidiary to further expand exports of key products like Buldak Bokkeum Myeon. The company's export share to Europe has steadily increased from 6% in 2019 to 11% in 2021 and 16% last year.
In response to the growing exports, Samyang Foods is also set to establish a new factory in Miryang next year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
