Why Buldak ramen Is an $8-billion brand

WHEN IT COMES to instant noodles, there's no Korean discount. Only a Korean premium.

- Bloomberg

Samyang Foods Co., the manufacturer of "Buldak" ramen, has gained 93% this year. Trading at 26 times forward earnings, it boasts $8.1 billion market cap, as much as bigger rivals Japan's Nissin Foods Holdings Co. and Korea's Nongshim Co. combined. This rally has also made Chief Executive Kim Jung-Soo, who married into a conglomerate family and turned around the instant-noodle company after it declared bankruptcy in the late 1990s, a rare billionaire in her own right in the country's male-dominated business world.

Buldak, which translates to "fire chicken" in Korean, is not for the fainthearted. With its debut in 2012, Samyang introduced a level of spice previously unseen in the instant ramen market. It has roughly the same heat level as jalapeño peppers. Last year, Denmark briefly recalled the fiery ramen for being too spicy.

Perhaps because of its "seriously extreme spice," Buldak has become an object of fascination for social media influencers who might enjoy truth-or-dare antics. The carbonara version, in particular, resembles the boxed macaroni and cheese Americans grew up with — with a kick.