Market Kurly Signs Business Agreement with NongHyup Economic Holdings to Expand Domestic Agricultural and Livestock Product Distribution

Curly and NongHyup Economic Holdings signed a business agreement to expand sales channels for agricultural and livestock products on the 26th at the NongHyup Central Association headquarters. (From left) Lee Seong-hee, Chairman of NongHyup Central Association, Kim Seul-ah, CEO of Curly.

Efforts to Secure Overseas Sales Channels... Collaboration on Joint Product Development
Promotion of Joint Logistics Cooperation, Considering Joint Investment in Logistics Centers

[Asia Economy Reporter Yuri Kim] Market Kurly's operator, Kurly, announced on the 26th that it has signed a Memorandum of Understanding (MOU) with NongHyup Economic Holdings to support the expansion of online sales channels for domestic agricultural and livestock products.

The signing ceremony held at the NongHyup Central Association headquarters was attended by Kurly CEO Seul-A Kim, NongHyup Central Association Chairman Seong-Hee Lee, and Agricultural Economy Representative Cheol-Hoon Jang. Through this MOU, both parties agreed to cooperate to expand online sales channels for domestic agricultural and livestock products. With this agreement, NongHyup will supply high-quality domestic agricultural and livestock products to Market Kurly, and Market Kurly will secure a stable supply chain through NongHyup. They also plan to jointly develop private brand (PB) products by leveraging Kurly's product development capabilities and NongHyup's manufacturing and processing facilities.

Kurly and NongHyup will also join forces to pioneer overseas sales channels for domestic agricultural and livestock products. Based on a solid supply of agricultural and livestock products, they plan to jointly develop ready meals (HMR) and lead efforts to secure overseas sales channels through each company's partners.

They also agreed to develop business models and investments to secure a competitive edge in the rapidly changing e-commerce market. Their first project will be to promote joint logistics cooperation. Kurly expects to combine its fresh food logistics and delivery capabilities equipped with a full cold chain system with NongHyup's nationwide offline infrastructure. Through this, they plan to expand the coverage area of the "Saetbyeol Delivery" currently operating in the metropolitan area, Chungcheong region, and Daegu to the southern region, and further consider joint investment in logistics centers to secure logistics competitiveness.

They also joined hands for demand forecasting and price management using data. By integrating Kurly's data analysis system with NongHyup's vast production and distribution data, they will cooperate in accurately forecasting supply and demand to enable proactive responses in production volume adjustment and price management.

Kurly CEO Seul-A Kim said, "The greatest significance of this cooperation with NongHyup is that Market Kurly customers will be able to use more high-quality domestic agricultural and livestock products." She added, "We will collaborate with NongHyup in various areas such as product development, data, and logistics to expand the sales channels of products produced by domestic farmers not only within Korea but also overseas."