Samyang Meals has launched “Samyang 1963,” a contemporary reinterpretation of Samyang Ramen, Korea’s first prompt noodles launched in 1963.
“Samyang 1963 is not only a retro product, however a restoration of honor and a return of sincerity,” Kim Jung-soo, vice chairman of Samyang Meals (003230), stated on Nov. 3 whereas personally unveiling the brand new product at BOCO Seoul Myeongdong Lodge in Jung-gu, Seoul.
Probably the most important function of the brand new product is using beef tallow when frying the noodles, following the unique manufacturing recipe of greater than 60 years in the past. The noodles are fried in a golden mix oil, an optimum combination of animal-based beef tallow and vegetable-based palm oil, to realize a wealthy taste. The soup is accomplished with a clear and spicy style by including radish, inexperienced onion, and cheongyang pepper to the liquid soup based mostly on beef bone broth.
Kim emphasised the succession of the founding spirit because the background for reintroducing beef tallow ramen after 36 years. He stated, “There was a type of future that we’d positively make beef tallow ramen once more sometime,” and added, “As Samyang grew into a worldwide model, our inner confidence elevated.” She then expressed her sentiments, saying, “It is rather resonant that we are able to considerably alleviate the remorse of my late father-in-law, Honorary Chairman Jeon Jung-yoon, and keep on his spirit (via the launch of this new product).”
The day of the brand new product unveiling marks precisely 36 years since Nov. 3, 1989, when the “beef tallow incident” occurred, thought of the best ordeal in Samyang Meals’ historical past. At the moment, client belief plummeted quickly when a report was filed with the prosecution that Samyang Meals and different ramen corporations had been utilizing industrial beef tallow. Though the Ministry of Well being and Social Affairs (now the Ministry of Well being and Welfare) formally introduced that beef tallow ramen was innocent to the human physique, Samyang Meals’ picture didn’t recuperate simply. Samyang Meals recalled and discontinued manufacturing of beef tallow ramen and has since used solely vegetable palm oil. Samyang Meals, which held an 80% market share within the home market within the Nineteen Sixties, noticed its share drop to 10% after the meat tallow incident.
Samyang Meals launched Samyang 1963 as its first premium product, utilizing beef tallow, which has the next unit value than palm oil. By this, they intention to reclaim their former glory within the home market by emphasizing their id as the unique producer of “Okay-ramen.” It additionally contains an try to cut back dependence on Buldak Bokkeum Myeon gross sales and broaden the product portfolio.
Samyang Meals is predicted to surpass 2 trillion gained in gross sales for the primary time this yr and have become the primary within the home meals business to exceed 10 trillion gained in market capitalization. Nonetheless, it has been criticized for its extreme dependence on Buldak Bokkeum Myeon, which accounts for 80% of gross sales. The shortage of a consultant soup ramen product and lagging home market share behind Nongshim and Ottogi are additionally thought of weaknesses.
Chae Hye-young, head of Samyang Meals’ New Development Model Division, stated, “Beef tallow is greater than twice as costly as palm oil,” however added, “Nonetheless, we determined to launch a premium product with the intention of constructing a scrumptious and nutritious product.” She continued, “We’re definitely contemplating exports as properly,” and “Our purpose is to surpass the gross sales of the present Samyang Ramen.”
