Hyundai Green Food Expands to Traditional Market Snacks

Last Year HMR Sales Up 60% YoY
Product Differentiation Like 'Moduui Matjip' Proves Effective

Hyundai Green Food, a comprehensive food company affiliated with Hyundai Department Store Group, offers the win-win convenient meal brand 'Moduui Matjip'. Last year, Hyundai Green Food introduced more than 20 new products, replicating the taste and form of local restaurant menus.
[Photo by Hyundai Department Store]

Hyundai Green Food, a comprehensive food company affiliated with Hyundai Department Store Group, launched the win-win convenient meal brand ‘Modu-ui Matjip’ in 2021. They produced 10 regional specialty restaurant menus as home meal replacements (HMR) and introduced them to the market. Modu-ui Matjip strengthened its lineup by adding more than 20 new products last year. The market response was enthusiastic. It was praised for faithfully replicating the taste and form of regional specialty restaurant menus.

As Modu-ui Matjip gained popularity, Hyundai Green Food’s HMR sales showed an upward trend. Since its launch, sales have steadily increased by more than 15% each month, and in the first quarter of this year, it achieved a 50% growth compared to the same period last year. Following the projects in the year before last and last year, Hyundai Green Food is currently conducting the third Modu-ui Matjip project this year. In collaboration with the Seoul Metropolitan Government, they held a contest targeting traditional market restaurants and finally selected a total of eight specialty restaurants for the ‘Modu-ui Matjip Traditional Market Edition.’ While the existing Modu-ui Matjip focused on meal types such as stews and hot pots, this Traditional Market Edition is characterized by expanding the product categories to include light snacks.

Alongside Modu-ui Matjip, the care food specialized brand ‘Greeting’ is also considered a key driver of convenient meal sales. Greeting is a brand that consolidates the know-how Hyundai Green Food has accumulated in B2B businesses such as group catering.

Hyundai Green Food plans to accelerate sales growth this year by expanding the distribution network for HMR products. They intend to diversify the distribution channels of HMR products, which have so far been sold only through ‘Greeting Mall’ and Hyundai Department Store’s food specialty online platform, to increase consumer touchpoints. Through this, they plan to raise the proportion of sales from external channels, which was in the 10% range at the end of last year, to 25% this year.