Seonjin "Expanding Overseas Business Division Sales to 36% by 2025... Leaping to a Global Company"

[Asia Economy Reporter Seungjin Lee] Smart livestock food specialist company Seonjin announced on the 29th that it aims to increase the sales ratio of its overseas business division to 36% by 2025, advancing into a global comprehensive food company.

Seonjin is currently conducting business in five overseas countries including the Philippines, Vietnam, China, Myanmar, and India, covering both the feed and livestock sectors. As of 2020, Seonjin's overseas business division accounted for 24% of total sales, and the company plans to expand this sales ratio to 36% within four years.

Seonjin entered various Asian countries in the order of the Philippines in 1997, followed by Vietnam, China, and Myanmar. Most recently, in 2019, it expanded into India, securing a foothold in the South Asia region and growing as a global company. Seonjin plans to grow its feed business division, the core of its overseas business, to a total of 1.5 million tons by 2025.

In addition to the feed business division, diversification tailored to the characteristics of each country is underway. In China, where meat consumption is rapidly increasing, the company plans to expand its beef cattle business. In India, the world's number one country in milk production and consumption, Seonjin is focusing on the dairy feed sector.

The core country of Seonjin's overseas business is Vietnam. Recognizing the growth potential of Vietnam's food industry, Seonjin plans to transplant vertically integrated businesses such as feed, pig farming, and food industry to develop Vietnam as its second Seonjin business model. In China, the overall overseas business is growing steadily, achieving a new record for monthly feed sales this year.

Seonjin's General Manager Beomkwon Lee said, “With the economic growth of Asian countries including China and the rising meat consumption, there is great expectation for the growth potential of the livestock and food industries,” adding, “Seonjin will transform into a global comprehensive food company based on the high technology and competitiveness accumulated over about 50 years.”