Nongshim founder named to 2025 Korea Business Hall of Fame

Nongshim founder named to 2025 Korea Business Hall of Fame

최초입력 2025.05.16 10:55:21

(Nongshim Group)

Shin Choon-ho, the late founder of South Korea’s food giant Nongshim Co., was honored as a 2025 Korea Business Hall of Fame honoree.
The Korean Academic Society of Business Administration and Maeil Business Newspaper held a ceremony on Thursday and recognized Shin for his lifetime achievements.
Established in 2016 by the Society and Maeil Business Newspaper, the Korea Business Hall of Fame honors entrepreneurs who have made exceptional contributions to Korea’s economic and industrial development, with the aim of inspiring future generations across industries.
“Shin transformed Korea’s dietary habits with the launch of instant noodles in 1970 and built Nongshim into a global brand led by Shin Ramyun, driven by strict quality control and a strong focus on research and development,” said Jung Yeon-sung, chairman of the award selection committee.
Often dubbed the king of instant noodles, Shin founded Lotte Industrial Co. (now Nongshim) in Seoul in 1965 with 5 million won in capital at the age of 35, as Korea was beginning its recovery from war and moving toward industrialization. His goal was to offer a nutritious, affordable, and flavorful meal alternative to alleviate hunger.
The journey to success was far from smooth.
At the time, a dominant company controlled more than 80 percent of the domestic ramyeon market, creating an effective monopoly. Just four years after its founding, Nongshim faced a critical crisis that threatened its survival.
A breakthrough came with the launch of beef-flavored noodles.
Shin believed that capturing the savory essence of traditional Korean beef soup would appeal to consumers.
Released in 1970, the product became an instant success, boosting Nongshim’s market share from just over 10 percent to 22.7 percent and setting the company on a path of sustained growth.
Following this turning point, Shin led the domestic instant noodle market with a string of groundbreaking products, culminating in his most iconic creation, Shin Ramyun.
Believing that a bold, spicy flavor would secure broad consumer appeal, Shin tested countless varieties of domestic chili peppers and experimented with various cooking methods for seasoning blends.
His dedication resulted in the signature spicy taste that defined Shin Ramyun when it was introduced in 1986.
Shin Ramyun was an immediate blockbuster, exceeding 18 billion won in sales the following year. In 1991, it claimed the top spot in the domestic ramyeon market, a position it has never relinquished.
Nongshim gained international recognition after serving as the official ramyeon supplier for the 1986 Asian Games and the 1988 Seoul Olympics. Motivated by this success, Shin turned his focus to global markets, particularly with Shin Ramyun.
Nongshim’s first overseas subsidiary, Nongshim America Inc., was established in 1994.
The company had been exporting ramyeon to Los Angeles since 1971 and saw its Neoguri gain local popularity in the 1980s. Shin then expanded into China by opening a plant in Shanghai in 1996 and later launching operations in Qingdao and Shenyang in 1997 and 1999, respectively.
In 2002, he further extended Nongshim’s global reach by founding Nongshim Japan to strengthen the company’s presence in Japan.
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Nongshim founder named to 2025 Korea Business Hall of Fame

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