Samyang Foods CEO Kim Jung-soo (left) and Sarya General Trading CEO Abdulla Mohamed Helal Alkaabi pose after signing a partnership deal in the UAE on Tuesday. (Samyang Foods)
Samyang Foods said Wednesday it had inked a partnership deal with United Arab Emirates retailer Sarya General Trading to accelerate Spicy Buldak Ramen sales in the Middle East.
Under the 2.5 billion-won ($2.1 million) deal signed on Tuesday, Sarya will be Samyang’s exclusive distribution partner in the country. The two plan to increase export volume to 50 billion won by 2023, it said.
UAE is the region’s biggest market for Samyang. Currently, some 71 percent of Korean instant noodle products sold there are from Samyang, it added.
“UAE is an important market in our expansion into the Middle East, as it serves as both a cultural and distribution hub in the region,” said an official from Samyang Foods.
Established in 2017, the Abu Dhabi-based Sarya General Trading is a general-trading and retail company under Sarya Holdings. It currently imports and distributes around 10 brands.
By Kang Jae-eun (email@example.com