This copy of “Shin Ramyun is a man’s crying”, “the 辛 of ramen” withdrawn

The founder of Nongshim, Chairman Shin Chun-ho (89), completely withdrew from the front line of management. The eldest son, Dong-won Shin, Vice Chairman of Nongshim will be elected as CEO and Chairman.

According to Nongshim on the 5th, Nongshim did not propose an agenda to reappoint Chairman Shin as the executive director at the regular shareholders’ meeting held on the 25th of next month. Vice President Lee Young-jin has been posted on the agenda for a new director. President Shin’s term of office is until the 16th of the following month. As a result, he resigned from the registered directorship, which he had held for 56 years since its establishment in 1965.

Chairman Shin resigned from the post of CEO after being elected president in 1992. Until now, they still go to the company almost every day to take care of key issues such as the group’s bold business direction and strategy, but Nongshim explained that they did not really intervene in management.

Chairman Shin was unusually active in his business. There are a lot of product names or advertising copies that he wrote himself. Shin Ramyun, made after his last name, Maeul Shin, is representative. His famous works include’japaghetti’ (jajang+spaghetti) and shrimp cracker, which means to mix jajang sauce like spaghetti. It is said that he made a copy of the advertisement, such as’The Man Ringing Shin Ramyun’ and’Drive A Raccoon’.

Nongshim has gained popularity in every ramen, starting with the raccoon (82), Anseongtang-myeon (83), chapaghetti (84), and Shin Ramyun (86). It quickly rose to the top of the ramen and snack industry. In his autobiography published in 1999, Chairman Shin also recalled, “Beef ramen, instant jajangmyeon, raccoon, Anseongtangmyeon, and Shin ramen hit every climax, and they became the foundation to cultivate the current Nongshim.

As a management style, he is regarded as a representative reclusive CEO. Although he served as the vice-chairman of the Korea Business Management Association, there was no clear external activity. Even at the time when he was active as a businessperson, he was famous for never taking any interviews or taking pictures. The Nongshim Group’s New Year’s Address was also delivered directly on the 50th anniversary of its founding. Even then, no photos were left.

In his autobiography, he wrote, “I have never stamped a check issued by the company with my own hands,” and “I did better because I trusted the person below.”

Chairman Shin is the second younger brother of the late founder of Lotte Group, Gyeok-ho Shin (1922-2020), general president. Originally, he worked with his brother at Lotte Group affiliates, but the relationship was broken when Shin pushed for the ramen business, which President Shin strongly opposed. Founded Lotte Industries in ’65 and sold’Lotte Ramen’, in 1978, he changed its name to’Nongshim’ and completely broke up with Lotte. This is because Shin’s general president opposes his younger brother’s use of the Lotte brand, saying, “Do you dare use the mission of Lotte?”

In his autobiography, Chairman Shin recalled the anecdotes he had with his elder brother, and expressed his pride that he “has grown into the No. 1 company in the ramen and snacks industry in many difficulties.” However, Lotte has once launched’Lotte Ramen’ as a Mart’s own brand (PB) product, but has not entered the ramen market in earnest.

These brothers were unable to recover their relationship until the death of President Shin. Instead, vice chairman Shin Dong-won, the eldest son of President Shin, and vice chairman Shin Dong-yoon, vice chairman of Yulchon Chemical, remained in the vacant place of President Shin last year.

Reporter Chu In-young [email protected]