Ottogi, Chairman Ham Young-jun Reappointed as Inside Director... Expanding Win-Win with Farmers

At the regular shareholders' meeting of Ottogi held on the 28th, the agenda to reappoint Chairman Ham Young-jun as an inside director was approved.

Regular shareholders' meeting held at Ottogi Research Institute in Anyang-si, Gyeonggi Province.
[Photo by Ottogi]

On the same day, Ottogi held a shareholders' meeting at the Ottogi Research Institute in Anyang, Gyeonggi Province, where the agenda to reappoint Chairman Ham as an inside director, along with partial amendments to the articles of incorporation, were passed. Through the amendments, Ottogi added "seed and seedling production and sales business" as a new business purpose. This is part of the "Farmers Co-prosperity Project," a new business announced last year.

Hwang Seong-man, CEO of Ottogi, stated, "We will develop the Korean agricultural co-prosperity development project to help Korean agriculture gain international competitiveness," and added, "We will strive to make this year a year of growth by further strengthening global sales."

Since its founding in 1969, Ottogi has surpassed annual sales of 3 trillion won for the first time in 53 years. Operating profit increased by 11.5% to 185.7 billion won, and sales rose by 16.2% year-on-year to 3.1833 trillion won. Net profit for the period was recorded at 278.5 billion won, an increase of 114.3%.

Regarding this, CEO Hwang commented, "Sales increased due to marketing strategies reflecting the diverse needs of customers across all generations and the launch of new products with excellent taste and quality," and evaluated, "Despite uncertain conditions such as the economic downturn, we achieved good business results through new product development, active domestic and overseas sales activities, and cost reduction efforts."