Samyang Foods began construction on a new manufacturing plant in the city of Miryang in South Gyeongsang Province on Monday which the company says will serve as its focal point for exports.

A budget of 200 billion won ($175 million) has been set aside for the five-story factory with a basement. And with a total floor space of 69,801 square meters and boasting automated production lines for ramen noodles and soup powder, the project is expected to be completed by early 2022.

“Many companies build manufacturing plants abroad to cut down the production costs but we’ve decided to establish the factory here in Miryang to invigorate the South Korean economy,” said Samyang Foods President Kim Jung-soo at the launching ceremony on Monday.

After its competition, the company will be able to produce up to 600 million servings per year, bringing the company’s total ramen production volume from 1.2 billion to 1.8 billion, which includes output from its Wonju and Iksan plants.

By Yim Hyun-su (hyunsu@heraldcorp.com)