SPC Samlip Partners with US 'Just' for Exclusive Domestic Production and Sales of 'Just Egg'

Expansion of B2B Sales Including SPC Group Affiliate Brands
Development of Vegan Products to Secure New Growth Engines
Leading the Future Food Tech Industry Market

At the JUST headquarters in San Francisco, USA, JUST CEO Josh Tetrick (third from the left) and SPC Samlip Director Kim Beom-su (fourth from the left) are posing for a commemorative photo.

[Asia Economy Reporter Lee Seon-ae] SPC Samlip announced on the 18th that it has signed a strategic partnership with the U.S. food tech company Eat JUST.

JUST is a startup that creates environmentally sustainable and highly nutritious foods through advanced science and technology. Since its establishment in 2011, it has attracted investments from Microsoft founder Bill Gates, Singapore’s sovereign wealth fund Temasek, Hong Kong’s richest man Li Ka-shing, Yahoo founder Jerry Yang, among others, emerging as the most prominent food tech company in Silicon Valley, USA.

JUST’s flagship product, JUST Egg, is made from plant-based protein extracted from mung beans and replicates the taste of eggs. It contains no cholesterol and has low saturated fat, gaining strong popularity among vegans and consumers with egg allergies. Recently, as the trend of “value consumption” pursuing ethical and environmental values has spread, approximately 30 million units (equivalent to the number of eggs) have been sold in the U.S., China, Hong Kong, Singapore, and other markets.

Through this partnership, SPC Samlip will manufacture JUST products such as JUST Egg, JUST Mayo, and JUST Dressing at the SPC Fresh Food Factory and exclusively distribute them domestically starting in the second half of this year. In addition to consumer distribution channels, SPC Group’s affiliated brands such as Paris Baguette and Dunkin’ Donuts will begin B2B market entry to expand supply.

SPC Samlip plans to strengthen its food business capabilities by expanding categories such as fries, patties, and omelets and actively developing vegan products. The global plant-based protein market was approximately 16 trillion KRW in 2019 and is expected to reach about 42 trillion KRW by 2023.

Josh Tetrick, co-founder and CEO of JUST, said, “Korea is a key market in Asia, and finding the optimal business partner was very important. We are pleased to introduce JUST Egg to the Korean market together with SPC Samlip, which has 75 years of food technology and know-how.”

An SPC Samlip official stated, “The plant-based protein food market is growing more than 10% annually worldwide, showing unlimited future growth potential. We will lead the domestic food tech industry and the future food market through this partnership.”

This content was produced with the assistance of AI translation services.