"Establishing Ramen Production Facility for Export"... Ottogi Ramen Signs MOU with Gyeongsangbuk-do and Gumi City
"2 Trillion Won Investment Planned by 2029"
Ottogi Ramen, a subsidiary of Ottogi specializing in ramen production, announced on July 13 that it will sign an investment memorandum of understanding (MOU) with Gyeongsangbuk-do Province and Gumi City to establish a ramen production facility dedicated to exports.
This MOU was initiated to establish an export manufacturing base in response to the growth of K-Ramen and K-Food. Ottogi Ramen plans to invest a total of 200 billion won from this year until 2029 to build a new ramen factory for exports within the Gumi 2nd National Industrial Complex, which is expected to create 120 new jobs.
Ottogi Ramen produces ramen products, including 'Jin Ramen', and is at the forefront of globalizing K-Food. Currently, Ottogi products are exported to more than 70 countries. This investment aims to secure a production base that can meet global export demand and utilize Gumi as a key hub for ramen production for export.
The MOU also includes provisions for food tech cooperation between Ottogi Ramen, Gyeongsangbuk-do Province, and Gumi City to strengthen the global competitiveness of K-Food. Through this partnership, Ottogi Ramen, Gyeongsangbuk-do Province, and Gumi City will cooperate in food tech fields such as the expansion of smart manufacturing, innovation in export manufacturing, standardization of manufacturing data, and improvement of related regulations.
Hot Picks Today
"Are You Okay, Dad? Brother?"... 1 in 18 Men Deficient, U.S. Military to Begin Annual Screenings
- "What Did He See?"... Warren Buffett Sells Stocks and Piles Up Cash
- "Home-Cooked Meals Were the Only Affordable Option, but Now Even Hetbahn and Dumplings Are Going Up"
- "One Year from Now Will Be Worse Hell"... 9 Out of 10 Japanese Fear 'Runaway Inflation'
- "How Can So Many Fit on One Boat?"...Crowds in Red: What Is This?
Shin-Hyuk Lee, CEO of Ottogi Ramen, stated, "This investment in Gumi is not just about expanding production facilities, but also an important opportunity to strengthen our ability to respond to global exports and secure a foundation for sustainable growth. We will work closely with Gyeongsangbuk-do Province and Gumi City to ensure the investment plan proceeds smoothly and will do our utmost to contribute meaningfully to vitalizing the local economy and creating jobs."
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
