Samyang Foods breaks ground on a new factory
Samyang Foods, best known for the spicy Buldak Bokkeum Myeon, started building a factory in Miryang, South Gyeongsang, on Monday.
The construction of the factory, designed to manufacture instant noodles for export, is scheduled to complete by 2022.
Samyang Foods invested 200 billion won ($175 million) in the factory, which will be able to manufacture 600 million instant noodles packages annually, raising the company's total capacity to 1.8 billion.
“A lot of companies are building production facilities overseas to cut costs, but we decided to build a factory in Miryang for the economic activation of Korea,” said Samyang Foods President Kim Jung-soo during a speech in Miryang on Monday. Kim vowed to improve the reputation of Korean food globally.
The company decided to build a new factory in December due to strong demand overseas, according to Samyang Foods.
Posco is building the factory.
BY JIN MIN-JI [email@example.com]