Pet Food Company Royal Canin Invests 210 Billion KRW to Expand in Gimje, Jeonbuk

Jeonbuk Province and Gimje City Sign Investment Agreement

[Jeonju=Asia Economy Honam Reporting Headquarters, Reporter Kim Han-ho] Jeonbuk Province announced on the 18th that it has signed an investment agreement (MOU) with the global foreign-invested company Royal Canin Korea for factory expansion.

This MOU was promoted to expand the factory and facilities in response to the increased demand for pet food due to the rise in pet-owning households and changes in perceptions of pets.

According to the MOU, Royal Canin Korea plans to invest 210 billion KRW by 2025 in its existing Gimje factory, doubling production capacity and equipping it with state-of-the-art facilities.

Jeonbuk Province and Gimje City will actively cooperate in administrative and financial support to ensure smooth progress of the company's investment.

Royal Canin, part of the global food company Mars Group, was established in France in 1968 and is a leader in the global pet food industry. It focuses on the fact that different dog and cat breeds require different nutritional components, supplying customized nutritional food that meets the nutritional needs based on the individual age, breed, lifestyle, body type, and health condition of dogs and cats, unlike general pet food.

In particular, the Royal Canin Gimje factory, which began production at the end of 2018, supplies products to nine countries in the Asia-Pacific region including Australia, New Zealand, Japan, Taiwan, and Hong Kong. It has contributed to the global spread of K-pet food by being the first domestic pet food company to receive export awards of 30 million USD (2020) and 50 million USD (2021).

This expansion investment by Royal Canin is expected to invigorate the local economy by creating more than 50 direct jobs, increasing indirect employment through related industry clustering, raising local residents' income, and improving the trade balance through expanded export regions.

Additionally, since rice and poultry are used as the main raw materials for the products, it is expected to contribute to the revitalization of related industries in the province and the development of the pet food industry.

Jeonju=Honam Reporting Headquarters, Reporter Kim Han-ho stonepeak@asiae.co.kr