Cho Yonggi, Head of F&B Innovation, Appointed as New CEO of Hanwha Foodtech
Joined the Group in 2007 and Built Extensive Experience in Food and Beverage Business
Seeking to Introduce Advanced Technologies Such as Robots in Cooking and Service
Aiming for Synergy in Group Meal Service Business Linked to Ourhome Acquisition
Hanwha Foodtech has appointed Cho Yong-gi, head of the F&B (Food & Beverage) Innovation Office, as its new CEO. Hanwha Foodtech is a company that changed its name last February to become a food tech specialist, originally a subsidiary of The Table Stable, the food service division of Hanwha Hotels & Resorts. The company is led by Kim Dong-seon, the third son of Hanwha Group Chairman Kim Seung-yeon and Vice President in charge of future vision at Hanwha Galleria and Hanwha Hotels & Resorts. The replacement of the CEO just over a year after the name change is seen as a move to create synergy through the acquisition of Ourhome, a group meal service company led by Hanwha Hotels & Resorts.
According to industry sources on the 10th, Hanwha Foodtech appointed Cho Yong-gi, head of the F&B Innovation Office, as the new CEO effective from the 1st. This marks a leadership change about 1 year and 5 months after Lee Jong-seung, who was responsible for managing The Table Stable in October 2023.
Born in 1975, the new CEO Cho joined Hanwha Group through the 2007 open recruitment and has served as head of the F&B Content Team and New Business Team at Hanwha Hotels & Resorts, as well as head of the F&B New Business Team at The Table Stable. He is recognized as an expert in the food and beverage business sector. His appointment reflects Vice President Kim’s intention to focus on the food tech field, which integrates advanced technology into food and beverage services.
In March last year, Hanwha Foodtech strengthened its investment in the food tech sector by acquiring the U.S. robot pizza brand 'Stellar Pizza.' Stellar Pizza possesses world-class technology in the pizza robot market. It fully automates the entire process by having robots prepare pizza dough that has been cold-fermented for 48 hours, producing a 12-inch pizza in about 5 minutes. In May last year, Hanwha Foodtech established a research and development (R&D) center near Pangyo, Seongnam City, Gyeonggi Province, to pursue the realization of an 'advanced restaurant' through kitchen automation, aiming to enter the global food tech market. Additionally, it signed a business agreement with Hanwha Robotics, Hanwha’s robot-specialized affiliate, to explore implementing collaborative robots in cooking processes and food and beverage services.
Kim Dong-seon, Vice President of Future Vision at Hanwha Galleria and Hanwha Hotels & Resorts (right), is touring the Food Tech booth at CES 2024, the world's largest electronics and IT exhibition last year. Photo by Hanwha Food Tech
Last month, Hanwha Hotels & Resorts signed a stock purchase agreement to acquire 58.62% of shares in Ourhome, the second-largest group meal service company in Korea, for 869.5 billion KRW. If the acquisition is finalized, it is expected that food tech will be expanded in the group meal service business, including the introduction of cooking robots. Vice President Kim believes that food tech can improve food hygiene and quality while also helping to solve social issues such as safety accidents and labor shortages that may occur during cooking and service processes.
A Hanwha Foodtech official stated, "Under the leadership of the new CEO Cho, who has led major projects based on diverse F&B field experience, we will lead the future food and beverage market by utilizing advanced technology."
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