Leveraging corporate success via R&D and niche market strategies: The case of Shin Ramyeon Born Global in Korea

摘要

This article is a case study of one of the most successful multinational corporations in the global packaged food industry, Nong Shim Co. Ltd. By focusing oh its phenomenal global business expansion starting from the 1990s, this article unravels internal mechanisms of innovation and knowledge management within the phenomenally successful instant noodle company. The study specifically focuses on the development of Shin Ramyeon, the sole product that saved Nong Shim from an imminent bankruptcy in the 1970s to Korea's largest instant noodle company by the late 1980s. Shin Ramyeon is now sold in 70 countries and locally produced in Korea, the United States and China. The article finds that the success of Shin Ramyeon was possible due to Nong Shim's persistent commitment to R&D and its global strategy based on the famous catch phrase 'one Korean flavour' for the entire global market. This article documents and analyses the process of developing this strategy and putting it into practice. We have continuously sought to be a leader in the Korean food industry. Although our journey has been marked by difficulties, some of which still continue today, our steady dedication to development, competitiveness and creativity has given us the confidence that we can overcome any challenge.