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Lotte Confectionery takes ramyeon to Pakistan

Collected: 2016.12.13

Distributed: 2016.12.14

Source: Go Direct

Lotte Confectionery Co. chief executive Kim Yong-soo (on the second from left) flew to Pakistan to check ramyeon production line at Lotte Kolson’s Karachi factory last Tuesday. [Photo: Lotte Confectionery Co.]

South Korea’s Lotte Confectionery Co. readies to try out its ramyeon recipes in Pakistan before this year ends, betting on the country’s small yet promising instant noodle market.

The leading Korean snack maker said on Tuesday that it plans to produce and market ramyeon, or instant noodle, in Pakistan within this year through its local unit Lotte Kolson (Pvt.) Ltd.

In October, Lotte Kolson completed the building of ramyeon production lines in its Karachi factory that can churn out around 10 billion won ($8.6 million) worth products. The firm plans to first produce prototypes and start to market its actual ramyeon within this month.

Under a new brand dubbed “Noodle Noodle”, the firm plans to roll out four types of instant noodles packed in packets and three types contained in cups. In the Pakistani market, cup noodles are relatively new as most noodles come in packets.

Ramyeon demand in Pakistan reached around 52 billion won in 2015. Multinational firm Unilever NV’s “Knorr” brand is the market leader with its sales reaching around 38 billion won. “Maggi,” the culinary and food brand of the world`s biggest food company Nestlé, follows behind with sales of around 10 billion won and local brand “Shoop” with sales of about 3 billion won.

The ramyeon market in Pakistan, home to a population of around 200 million, has large growth potential, according to Lotte Confectionery.

The Korean firm acquired a majority stake in Pakistani Firm Kolson in 2011, and re-named it Lotte Kolson. Armed with about 2000 workforce, it achieved a double-digit growth in 2015 from a year earlier, with sales of around 125 billion won. It is the market leader for pasta products such as spaghetti, macaroni, lasagnas, noodles and vermicelli.

By Baek Sang-kyung

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