Samyang Foods announced May 15, 2024, that Vice Chairperson Kim Jung-soo has been promoted to Chairperson [1].
The appointment signals a strategic shift toward strengthening leadership and accountability as the company aggressively expands its presence in international markets [1, 3].
Kim is scheduled to officially assume the role of Chairperson on June 1, 2024 [2, 3]. According to company statements, the move is designed to bolster responsible management and leadership for global business growth [1, 3].
Kim has been a central figure in transforming Samyang Foods into a global food company, largely through the success of the Buldak Bokkeum-myeon product line [4]. Under this leadership trajectory, the company's international revenue saw a massive increase. In 2016, overseas sales stood at 93 billion won [1]. By last year, that figure climbed to 1.8838 trillion won [1].
This growth represents an increase of approximately 20 times in overseas revenue [1]. The shift in the company's revenue stream is equally stark; the proportion of overseas sales rose from 26% in 2016 to 80% last year [1].
Kim's ascent to the top position followed a rapid progression within the corporate hierarchy. The executive moved from general manager in 2021 to vice chairperson, and now to chairperson, over a period of approximately five years [1].
Samyang Foods said it appointed Kim Jung-soo as chairperson on the 15th [1].
“The move is designed to bolster responsible management and leadership for global business growth.”
The promotion of Kim Jung-soo reflects the company's transition from a domestic South Korean brand to a global powerhouse. By placing the architect of the Buldak phenomenon at the helm, Samyang Foods is prioritizing the maintenance of its international momentum—where the vast majority of its revenue now originates—over traditional domestic operations.
