On September 1, the National Assembly of South Korea commenced its regular session. Among the diverse topics broached, a notable discussion revolved around the promotion of Korean ramen as a representative national export.
During the discussion, it was stated that Jin was a reason for the huge increase in overseas sales of Korean ramen.
An official said:
“Starting from the 2020 award winning Parasite (Jjapaguri) & the advertising model effect of Jin (Ottogi Jin model), a member of BTS, we are showing a significant growth trend.”
According to the Korea Customs Service, the amount of ramen exports from the start of this year up to July was approximately 522 million dollars; it increased by 17.7% from the same period last year.
After becoming a model of Ottogi’s Jin Ramen, Jin became a hot topic in the economic media outlets of South Korea. Ottogi’s revenue has increased by at least 15%, despite the struggles faced by the rest of the industry.The company’s sales and popularity have skyrocketed in the overseas market, largely thanks to the commercial endorsement by Jin. At the beginning of 2023, Ottogi managed to join the ‘trillion won club’ (2.43 Billion USD) and was recognized as a global brand by Korean economic media. The company was founded back in 1959 but has managed to surpass the recording amount of sales only after just a couple of months of collaborating with Jin.
Jin ramen’s export sales reached 326.4 billion won last year, up 19.2% from previous year. This is equivalent to 10.3% of last year’s total sales of 3.1833 trillion won (overseas and in Korea). In particular, Ottogi’s sales in the U.S. subsidiary increased by a lot.
In case of U.S. corporations, sales grew up 39% year-on-year to 92.2 billion won last year. Due to Jin, Ottogi was selected as one of the Korean Representative Brands.
