Namyang Dairy Products Signs 10 Billion Won Export MOU at Korea-Mongolia Economic Delegation

Expanding Cooperation to Domestic Raw Milk-Based Infant Formula and a Wide Range of Dairy Products

Namyang Dairy Products announced on July 10 that it was the only domestic dairy company to participate in the Korea-Mongolia economic delegation, and has signed a memorandum of understanding (MOU) with Mongolian food distribution company "Maximus Distribution" for a three-year export expansion of K-Food products worth 10 billion won.

On the 9th, Namyang Dairy Products signed a memorandum of understanding (MOU) to expand exports with the Mongolian food distribution company 'Maximus Distribution'. From left to right in the photo, Kim Jeong-kwan, Minister of Trade, Industry and Energy, Kim Seung-eon, President of Namyang Dairy Products, Bae Sang-gon, CEO of Maximus, and Togmid Dorjhand, Deputy Prime Minister of Mongolia, are posing for a commemorative photo. Provided by Namyang Dairy Products

Through this partnership with Mongolia, Namyang Dairy Products will expand its cooperation beyond the existing French Café instant coffee mix to include infant formula and a wide range of dairy products based on domestic raw milk. The company plans to strengthen its presence in the Mongolian market by expanding its export lineup to include powdered formulas such as "Imperial XO," "I am Mother," and "Agisarangsu," as well as "Delicious Milk GT" sterilized milk, "Da Vinci" cheese, and "Namyang" yogurt.

The partner company, Maximus, operates a distribution network of over 13,000 outlets throughout Mongolia, including major supermarkets such as Nomin and Orgil, convenience stores like CU and GS25, traditional markets, and neighborhood grocery stores.

Previously, in April, Namyang Dairy Products signed an export agreement worth 70 billion won over three years at the Korea-Vietnam Business Forum.

Seung-eon Kim, President of Namyang Dairy Products, stated, "It is meaningful for us to establish a strategic cooperation platform through the government economic delegation in Mongolia, following our achievements in Vietnam. Based on the competitiveness of our domestic raw milk-based infant formula, we will expand our cooperation to a broader range of dairy products and enhance the foundation for sustainable growth in the global market, thereby contributing to strengthening the competitiveness of K-Food."

This content was produced with the assistance of AI translation services.