They discussed how Jinhelped Ottogi’s success story despite being the 10th famous celebrity to be a representative of Jin Ramen.
Jin is acting as a filial son to Ottogi Jin ramen. Jin ramen’s export sales reached 326.4 billion 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.
BTS is generating huge economic effects with brand power. For Hyundai Motor, sales rose 60%. CEO of Hyundai Motor Indonesia said, “BTS has raised Hyundai Motor’s favorability.” McDonald’s Q2 Revenue Up 40%. Jin is acting as filial son to Ottogi Jin ramen.
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.
The BRANDSTARS Selection Committee hosted the 5th 2023 Korea Representative Brand and selected Korea’s best brands by industry.
BTS was selected in the entertainment category for the 5th consecutive year.
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.
2/27/23K PoliEcon News
“According to a corporate disclosure released on the 27th, Ottogi recorded 3.18Tril won in revenue n 185.7 bil won in operating income last yr, an increase of 16.2% n 11.5% respectively +
Meanwhile, the Jin Effect continues even in 2023. Ottogi Ramen exports, reached a recording number of $208 million sales in the 1st quarter of 2023. This achievement was also covered in the Korean TV News.
Kmedia says Jin’s “SUPER SPECIAL EFFECT” has been proven again
“Biggest export ever..Jin for BTS. Jin for ramen, too . After having Jin as model, Ottogi Ramen exports, reached a record HIGH of $208 million as of the 1st quarter of the year,
Sales rose 15.4% year-on-year to 856.784 billion won in the first quarter of this year due to increased ramen sales. In addition, operating profit was 65.371 billion won, up 10.7% from the same period last year. Ottogi’s U.S. subsidiary recorded 26.6 billion won in sales in the first quarter of this year, up 40% from the same period last year.
The popularity of Jin is so impactful that BTS fans have increased their number of orders through Amazon’s online stores of Ramen due to Jin.
