BK Tops Launches HMR 'Patgodang' Ready-to-Eat Product

[Asia Economy Reporter Hyungsoo Park] BK Tops is set to actively promote its Home Meal Replacement (HMR) business.

On the 30th, BK Tops unveiled the HMR finished products of 'Patgodang,' a domestic premium red bean specialty bakery cafe brand. In October, BK Tops signed a nationwide store maintenance and consumable materials integrated purchasing contract with Patgodang.

A company official stated, "Utilizing the distribution business infrastructure inherited from Dongyang Group, the predecessor of BK Tops, revenue is being generated through an online e-commerce platform," adding, "We expect improved performance by entering the HMR market based on a fresh food dawn delivery system."

According to the Korea Agro-Fisheries & Food Trade Corporation, the domestic HMR market size is projected to grow from approximately 3.5 trillion KRW last year to 5 trillion KRW by 2022. Due to the ongoing social distancing measures amid the COVID-19 pandemic, demand for home meal replacements has steadily increased.

A BK Tops representative said, "Next year, we expect to achieve sales in the distribution business alone that are about twice the total sales of this year," and added, "Along with HMR, we plan to introduce overseas home appliance brands to the domestic market through a license OEM method."