Lee Gyu-lee is a business writer at The Korea Times, focusing primarily on IT & telecommunications, the Ministry of Trade, Industry and Energy and KOTRA. Prior to this, she has covered a wide range of cultural news, from film, television and K-pop to lifestyle and fashion.
Nongshim’s Shin Ramyun rides on ‘KPop Demon Hunters’ fame
Nongshim's “KPop Demon Hunters” editions of Shin Ramyun are displayed at a supermarket in Seoul, Wednesday. Yonhap
By Lee Gyu-lee
Nongshim is attempting to ride the trend of Netflix’s smash-hit animation “KPop Demon Hunters” for its flagship instant noodle product Shin Ramyun to expand worldwide, especially with its competitor Samyang's Buldak instant noodles gaining ground globally.
On Aug. 20, the leading instant noodle maker rolled out special packaging for its products, including its shrimp crackers and classic Shin brand instant noodles, to feature characters from “KPop Demon Hunters” for local and international distribution.
The animated film about a K-pop girl group battling against supernatural danger has garnered massive success, becoming the most-watched title ever on the platform.
With the animation's global fame, songs, food and fashion featured in the film have also been put in the international spotlight, including the instant noodles eaten by the main characters, which resembled Nongshim's classic Shin brand.
The collaboration quickly generated buzz, as the company’s stock rose by 6.3 percent on the day of the announcement. Its stock closed at 426,500 won ($306) on Wednesday, an increase of about 17.3 percent compared to Aug. 19, the day before the company announced the collaboration.
When Nongshim unveiled on Aug. 28 that it would roll out 1,000 special “KPop Demon Hunters” limited-edition Shin Ramyun instant noodles with packaging featured in the film, the company’s stock gained 2.4 percent, which rose by an additional 4.5 percent on Sept. 1.
With the company riding high on the hit film’s fame, it is expected to see positive overseas earnings in the second half of the year, especially in North America.
“There are high expectations for the collaboration with ‘KPop Demon Hunters,’” the company said, noting it will be releasing a collaborative edition of its products in North America. “While the U.S. market was stagnant in the first half of the year, we expect to see sufficient growth in the second half. The collaboration with ‘KPop Demon Hunters’ is also expected to boost sales.”