NongHyup to Sell Korean Agricultural Products Ready Meals at CU Convenience Stores

NongHyup, BGF Retail, and Handon Self-Help Fund Sign MOU

Lee Seong-hee, President of the National Agricultural Cooperative Federation (center), and Baek Jong-won, CEO of The Born Korea (first on the right), attended the business agreement ceremony on the 28th and posed for a commemorative photo. (Photo by Nonghyup)

[Sejong=Asia Economy Reporter Moon Chaeseok] On the 28th, NongHyup announced that it signed a Memorandum of Understanding (MOU) with BGF Retail and the Korean Pork Producers Association at the NongHyup Central Association headquarters in Seodaemun-gu, Seoul, to expand the consumption of domestic agricultural and livestock products and strengthen competitiveness in the Home Meal Replacement (HMR) business.

At the signing ceremony, the three parties to the agreement, along with Baek Jong-won, CEO of The Born Korea, gathered to express their commitment to cooperation for expanding the consumption of domestic agricultural and livestock products. According to the MOU, NongHyup and the Korean Pork Producers Association will supply high-quality domestic agricultural and livestock products as raw materials for processed products. BGF Retail will handle sales through CU convenience stores.

In response to the increased demand for HMR due to the impact of COVID-19, NongHyup launched a bulgogi and fried rice HMR set last month on the 15th, marking its 60th anniversary. NongHyup was responsible for product planning and raw material supply, while The Born Korea handled recipes and production, collaborating closely.

NongHyup plans to continue expanding the consumption of domestic agricultural and livestock products and enhancing HMR competitiveness by supplying raw materials through regional NongHyup branches. They expect that the MOU will enable stable raw material supply and distribution network acquisition through cooperation with external specialized companies in response to the gradually expanding HMR market.

Lee Seong-hee, Chairman of NongHyup Central Association, said, "NongHyup's processing business plays a significant role in stabilizing domestic agricultural product prices and protecting farmers, and it is a key business with promising growth prospects." He added, "Through this business agreement, we will expand the consumption of domestic agricultural and livestock products and develop various products that meet consumer needs to satisfy both farmers and consumers."