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Photo = Yonhap news |
[Alpha Biz= Kim Sangjin] Amid increasing uncertainty in the business environment, including consumer slowdown and high exchange rates, food companies are making large-scale investments to find new growth opportunities.
According to the food industry on Wednesday, Dongwon F&B is investing a total of 1.65 trillion KRW in expanding facilities at its refrigerated food and liquid beverage production plants.
Specifically, 1.1 trillion KRW will be invested in the refrigerated food plant, and 550 billion KRW will be allocated for the liquid beverage plant.
Dongwon F&B is also considering exporting products produced at these plants to overseas markets.
Earlier, CJ CheilJedang announced that it would invest a total of 8 trillion KRW in establishing overseas production bases, including 1 trillion KRW for a plant in Hungary and 7 trillion KRW for a plant in Sioux Falls, South Dakota, USA.
The plant being built in Dunavarsány, near Budapest, Hungary, will feature state-of-the-art automated production lines and is expected to produce 'Bibigo Dumplings' for the European market starting in the second half of 2026.
The Sioux Falls plant in the United States is an Asian food production facility being built on an area of 575,000 square meters, with completion scheduled for 2027.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
