HiteJinro Makes First Startup Investment as Corporate Angel Investor

[Asia Economy Reporter Lee Seon-ae] HiteJinro is making its first startup investment since being selected as a corporate angel investor.

HiteJinro announced on the 7th that it has signed an equity investment contract with ‘Appa Company’.

Focusing on building an investment portfolio centered on the lifestyle sector, HiteJinro decided on this investment after recognizing the business potential and growth prospects of Appa Company’s ‘Yoribury’ service, which sells representative dishes from famous restaurants nationwide in a semi-prepared form, paying attention to the expansion of the home meal replacement (HMR) market and the acceleration of O2O service growth.

In 2018, HiteJinro became the first company in the liquor industry to sign an investment contract with the startup company builder ‘The Ventures’ and opened a shared office called ‘New Block’ at its headquarters in Seocho-dong, operating various accelerating programs. Since being selected as the first corporate angel investor among domestic for-profit companies in October last year, it has been striving to contribute to the development of the startup ecosystem by discovering promising startups and strengthening partnerships with related organizations.

The Yoribury service operated by Appa Company, which is making its first investment this time, is a service that allows ordering and selling about 200 products, including Busan Eoljjang Jjukkumi, Gongju Cheongbyeokjip, and Chuncheon Tongnamujip Jjimdakgalbi, widely known through TV and social network services (SNS), via its website and mobile app. It is expected to be a company with great growth potential by continuously striving for competitiveness and differentiation, such as securing representative dishes from famous restaurants at affordable prices and expanding exclusive contract products.

Huh Jae-kyun, Executive Director of New Business Development Team at HiteJinro, said, “We plan to secure new growth engines as a 100-year company by building a diverse investment portfolio,” adding, “We will provide necessary support for startup nurturing through monitoring after the initial equity investment and continue efforts for follow-up investments.”

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