Nongshim

1965–1979

On 18 September 1965, Nongshim was established under the name Lotte Food Industrial Company in Seoul, South Korea by Shin Choon-ho. Though Choon-ho was the brother of Lotte Corporation founder Shin Kyuk-ho,[9] the two businesses were separate.[10] When Nongshim introduced its first ramyun, Lotte Ramyun in 1965, there were 7 other companies in the market.[4][11]

As a second mover in the ramyun industry, Lotte Food Industrial Company focused on research and development. Along with South Korea's first commercialized packaged snack, Beef Ramyun in 1970, Saeukkang in 1971, and Nongshim Ramyun in 1975, Nongshim achieved a 35% market share in the mid-1970s. On 6 March 1978, after a dispute with his brother, Choon-ho changed the company's name to Nongshim, meaning "farmer's heart."[9][10]

1980–1989

During the 1980s, Nongshim invested highly on machinery, equipment, and systems. The Anseong factory was built in 1981 to specialize in powder soup, used to flavor the ramyun.

Many of Nongshim's famous ramyun products were introduced during the 1980s: Neoguri in 1982, Ansungtangmyun in 1983, Chapagetti in 1984, and Shin Ramyun in 1986. Cup and bowl-type instant noodles were also introduced during this period.

Nongshim's market share reached 40% in 1984, and became a leading company of the market in March 1985. With Shin Ramyun (1986), the most beloved instant noodle brand in South Korea, Nongshim reached 46.2% of the ramyun market share in 1987, 53.2% in 1988, and 58% in 1989.[12]

1990–present

On 1 January 1991, Nongshim introduced its new corporate identity (CI): Nongshim Seed.[13] In 1990, the company's largest factory was opened in Gumi.[14]

The Asan factory was built in April 1993, and it specializes in potato and rice snacks. In April 1994, Nongshim introduced aseptic production system for cold noodles. In 2007, The Noksan factory was built to specialize in non-frying noodles and well-being (health) products.

During the 1990s, Nongshim focused on exporting and expanded their business in the global market.[15] In July 1997, Nongshim began sponsoring the national Baduk (Go) Championship.[16]

Nongshim built factories in China in the late 1990s and early 2000s: Shanghai (1996), Qingdao (1998), Shenyang (2000), a second factory at Qingdao (2002), and Yanbian (2015). In the U.S, Nongshim built a factory in Los Angeles in 2005.[17]

Chairman

• Shin Choon-ho (1992–2021)
• Shin Dong-won (2021–Present)

Executive Chairman or Chairman & CEO

• Son Wook (2008–2010)

Vice Chairman

• Shin Dong-won (1998–2021)
• Lee Sang-yun (2010–2011)
• Park Joon (2016–Present)

President & CEO

• Shin Choon-ho (1965–1992)
• Lee Sang-yun (1992–2008)
• Park Joon (2012–2016)

Affiliates

Nongshim has 10 affiliates: Nongshim Holdings, Taekyung Nongsan, Youlchon Chemistry, Mega Mart, Nongshim Communication, NDS (Nongshim Data System), Nongshim Engineering, Youlchol Foundation, Hotel Nongshim, and Nongshim Development.[19]

Global operations

Nongshim's headquarters is located in Seoul, South Korea. Nongshim products are now exported to over 100 countries around the world.[20] As of 2016, Nongshim has 11 manufacturing plants around the world: Korea (Anyang, Ansung, Asan, Gumi, Busan, Noksan), United States (Rancho Cucamonga, CA), China (Shanghai, Qingdao, Shenyang, Yanbian).[21][22] There are 7 sales distribution offices in 6 countries outside of South Korea: the United States, Canada, Australia, Japan, China and Vietnam.