Posted by Jimin-int2,043 pts Monday, February 27, 2023
Korean media reports on BTS Jimin's contribution in generating high profits for Samyang Foods last year
BTS's Jimin is contributing to the Korean Food industry, and its globalization has seen incredible profits.
On February 14, Korean media reported that Samyang Foods' consolidated sales last year had risen by 41.6% to 909 Billion KRW, the biggest sales record ever. The operating profit rose by 38.3% to 904.41 Billion KRW during the same period, with net profit also going up.
The report explained that the increase in sales was thanks to the strong exports and expansion of overseas subsidiary sales.
The phenomenon was attributed to the popularity of spicy ramen and fire chicken noodles which in particular sold more than 1 Billion units in 12 years. The fire chicken (Buldak) brand of noodles is the favorite choice of BTS member Jimin. The product became popular among fandoms around the world, leading to the fire chicken noodle challenge on social media, which spread overseas.
Jimin's favorite brand is also said to be exported to more than 4 countries as its popularity continues to grow. In August last year, Samyang Foods' Vice President Kim Jung-Soo thanked Jimin for impacting the sales of spicy chicken ramen on SBS Food Talk, saying that a video of him enjoying Buldak ramen had caused a great commercial success.
Samyang Foods was the main sponsor for the Permission To Dance on-stage series of concerts from Seoul to Las Vegas. This sponsorship was explained by staff members present at the venues as owed to Jimin's love for the brand. In November last year, the Munhwa Ilbo reported that there was a long queue of fans at the spicy chicken stir-fried noodles booth, during the MAMA Awards. The Jimin effect on Buldak worldwide was highlighted by the South Korean national newspaper JoongAng daily last year when they expected sales to reach $400 Million, since 2020 Business Watch Korea has reported high sales in US and China for the Buldak ramen thanks to Jimin.
In the KOFICE 2021 Hallyu report, Jimin was strongly linked to Korean food and Korean entertainment. In the same year, the South Korean Ministry of Agriculture and Food distribution corporation revealed his contribution to the sharp exports of Tteokboki and Red pepper paste after he was seen eating them. Jimin also impacted sales of dumplings, as reported by Bloomberg; Kimchi and Jeju's Dageumbari sashimi have all seen high profits.
The Jimin effect strikes again. He sells products because people love him 😍