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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, November 19 — Samyang Foods—the global success behind its “Buldak Ramen” spicy chicken noodles—announced that it will expand investment in its first overseas production base located in Jiaxing City, Zhejiang Province, China, from KRW 201.4 billion to KRW 207.2 billion (about US $150 million).
The Jiaxing plant, originally planned with six production lines, will now expand to eight lines under the increased investment.
All output from the Jiaxing facility will be supplied to the Chinese domestic market. Samyang Foods said the investment will strengthen its ability to respond to the Chinese market, enhance stable supply of flagship products, and accelerate localization strategy through local production and factory expansion.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
