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Biz News Korea(Eng)
Ottogi mulls building second production plant in Vietnam
- Collected
- 2017.08.14
- Distributed
- 2017.08.15
- Source
- Go Direct
Shin Chung-geun, head of Ottogi Vietnam
The second plant, to be built in Ho Chi Minh City, will be equipped with facilities to cover production of multiple food products including frozen foods.
“We have been active in the Vietnamese market with our mainstay items from Korea but now we are planning to produce them directly here. Almost all of our products in Korea will be localized here,” Shin Chung-geun, head of Ottogi Vietnam, said in a recent interview with Maeil Business Newspaper.
Ottogi Vietnam, which began operations in 2008, now generates the company’s largest sales outside Korea with annual revenue of 28.5 billion won ($25 million).
Shin attributed Ottogi’s stellar performance in Vietnam to its widespread distribution network. Since entering the market 10 years ago, its sales employees have gone all-out to increase market coverage throughout the country, visiting five or more distributors including small ones in rural areas each day. As a result, the company now boasts one of the most extensive distribution chains in Vietnam among Korean food retailers, he said.
The company’s best-selling product in Vietnam is instant noodles, which account for 45 percent of its total sales in the country. Sales were also driven by the rising popularity of Korean pop music and dramas in the past three years, Shin said.
By Lee Hee-soo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]