Samyang Foods stock hits record high amid ‘Buldak’ global boom—on track to become a ₩1M stock?

Samyang Foods, South Korea’s original ramen company, has hit an all-time high of ₩920,000 per share, fueled by record-breaking sales and surging global demand for ‘Buldak’ spicy noodles. As international sales continue to skyrocket, speculation is growing over whether Samyang Foods could soon become a ‘golden stock’ (₩1M+ per share).

On February 18th KST, the Korea Exchange reported that Samyang Foods closed at ₩886,000, up 1.61% from the previous trading day. Earlier that day, the stock hit ₩920,000, its highest price ever.

The surge is directly linked to Samyang’s strongest financial performance in history.

On February 5th, Samyang Foods announced preliminary 2024 financial results:

• Revenue: ₩1.73 trillion (+45% YoY)

• Operating profit: ₩344.2 billion (+133% YoY)

• Net profit: ₩272.3 billion (+115% YoY)

This marks the first time in Samyang’s history that annual operating profit exceeded ₩300 billion.

Originally launched in April 2012, Buldak Bokkeum Myeon remained a niche product until 2014-2015, when social media challenges catapulted its popularity worldwide.

• The ‘Buldak Challenge’: Social media users dared each other to eat the extremely spicy noodles, driving viral engagement.

• BTS effect: The global K-pop phenomenon significantly boosted Buldak’s brand visibility, as BTS members were often seen enjoying the noodles during live streams.

• Jimin’s impact: Samyang Vice Chairman Kim Jung Soo credited BTS’s Jimin as a key contributor to the brand’s success, stating, “We are incredibly grateful to BTS’s Jimin for showcasing his love for Buldak Bokkeum Myeon, which significantly boosted our brand’s visibility.”

On August 2022, the day Kim Jung Soo publicly acknowledged BTS’s impact, Samyang Foods stock closed at ₩115,500.

• Since then, the stock has surged 7.67x, closing at ₩886,000 on February 17th.

• From its August 2022 low of ₩114,000 to the recent high of ₩920,000, the stock jumped 707% (8.07x).

Could Samyang Foods become a ₩1M+ ‘golden stock’?

With continuous global expansion, analysts are raising their target prices for Samyang Foods:

• Kiwoom Securities: ₩1.2 million

• IBK Investment & Securities: ₩1.08 million

• DS Investment & Securities: ₩1.0 million

As Samyang Foods expands production in North America, Europe, and China, many believe it is only a matter of time before the stock surpasses ₩1 million, officially making it a ‘golden stock’.

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