Jeju Beer to Enter US Major Supermarkets in Partnership with 'Olgot'

Jeju Beer announced on the 17th that it plans to actively enter the U.S. market through a business partnership with 'Olgot,' the company selling 'Baba Gimbap,' the star of the U.S. K-food craze. Baba Gimbap is currently supplied to the major U.S. supermarket Trader Joe's and continues to experience sell-out streaks.

Jeju Beer recently disclosed through an electronic public filing that it will acquire a 17.39% stake in 'AgeGF,' which owns 100% of the global No.1 frozen gimbap company 'Olgot,' by investing approximately 8 billion KRW. After completing this 8 billion KRW investment, an additional investment of about 7 billion KRW is also planned.

Olgot is currently the world's largest frozen gimbap manufacturer, producing up to 80,000 units per day as of May last month, leading the 'K-food' trend. According to Olgot CEO Choi Hong-guk, the order volume for 'Baba Gimbap' is expected to reach 90 billion KRW annually in 2024, with sales projected to grow to 200 billion KRW by next year.

Jeju Beer plans to join the 'K-food' craze by entering major U.S. supermarkets in partnership with Olgot. Jeju Beer's investment in Olgot is not merely a shareholding investment but aims for various strategic alliances. Starting with this investment, Jeju Beer and Olgot will engage in diverse strategic partnerships, including mutual cooperation for overseas product expansion, collaboration on new F&B businesses, and support for F&B distribution and sales.

A company official stated, "Jeju Beer and Olgot are currently planning various forms of business cooperation, and we will soon be able to share concrete plans," adding, "We are confident that Jeju Beer will successfully enter major U.S. supermarket brands through the distribution network secured by Baba Gimbap."