Napalkkot Food Plan and Korea Plant to Invest 50 Billion KRW in Kimchi Factory Construction in Andong

Signing of Investment Memorandum with Andong City
Scheduled for Completion by 2026

Andong City (Mayor Kwon Ki-chang) signed a memorandum of understanding on the 30th at Andong City Hall with Napalkkot Food Plan (CEO Chu Jang-jae) and Korea Plant Co., Ltd. (CEO Kim Byung-chul) for the establishment of a kimchi manufacturing and processing factory worth 50 billion KRW.

Napalkkot Food Plan Co., Ltd., an affiliate of the Napalkkot Group located in Jangsu-gun, Jeonbuk, supplies raw materials with kimchi, marinated crab, and meat as its main products. The products produced at the newly constructed factory will be offered through various channels such as home shopping, social and open markets, and convenience stores. They plan to create the cleanest and most delicious top-quality kimchi that captures Andong’s pristine nature and aim to become the best kimchi brand in Korea.

Napalggot Food Plan CEO Chujangjae (right) and Korea Plant CEO Kim Byung-chul (left) are holding up the memorandum of understanding after signing an investment agreement for the establishment of a kimchi factory with Andong Mayor Kwon Ki-chang.

Through this agreement, Napalkkot Food Plan Co., Ltd. and Korea Plant Co., Ltd. will invest 50 billion KRW by 2026 to build a new kimchi manufacturing and processing factory in Andong. Once the investment is completed, it is expected to contribute to revitalizing the local economy by creating about 160 new jobs and promoting the consumption of local agricultural products.

CEO Chu Jang-jae stated, “We are very pleased to be able to spread the taste of Korea domestically and internationally by utilizing Andong’s clean agricultural products and natural environment through the construction of the factory. We will establish ourselves as a trusted company by supplying high-quality kimchi to consumers.”

Mayor Kwon Ki-chang of Andong said, “I hope this will become a representative kimchi brand through mutual growth with local farmers, and I expect it to be a great opportunity to promote our excellent agricultural products and food. We will spare no administrative support to revitalize the local economy.”