[Asia Economy Reporter Hyungsoo Park] Pet food manufacturer OSP has signed a strategic business agreement (MOU) with pet snack manufacturer Bauwow Korea to develop high-functional pet food products and expand overseas markets. The agreement ceremony was held on the 7th at OSP's Seoul office in Yeongdeungpo-gu, Seoul. The event was attended by OSP CEO Kang Jaegu and Bauwow Korea CEO Lee Insu. They agreed to mutually share pet food research, development, and manufacturing technologies and collaborate to commercialize products.
They will jointly develop various high-functional products, including not only dry pet food but also semi-moist food, cooked food, and snacks. They plan to cooperate across the entire pet food business, including utilizing domestic and overseas distribution networks together.
CEO Kang Jaegu introduced, "OSP has focused on premium dry pet food to strengthen its business capabilities," and "Bauwow Korea has a specialized product portfolio centered on snack products, as well as semi-moist and cooked foods." He added, "This will be a turning point for OSP to diversify pet food products through the development of high-functional new products and to expand into overseas markets."
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