HiteJinro Signs Investment Agreement with Seafood Online Brokerage Platform Service 'Foodisson'
[Asia Economy Reporter Choi Saeng-hye] Hite Jinro's fifth investment destination this year is an online seafood brokerage platform service.
Hite Jinro announced on the 9th that it has selected 'Foodisson' (service name: Sinseonhae), which provides an online seafood brokerage platform service (B2B) for businesses such as restaurants, as an investment target and signed an equity investment contract.
Foodisson is in the very early business stage preparing for beta testing, and Hite Jinro has prepared this investment in a company builder model to grow the company together from establishment to business success.
They decided to invest after highly evaluating Foodisson's competitiveness, which reduces logistics costs by minimizing intermediate distribution processes and using an optimized delivery guidance system based on IoT (Internet of Things) technology. Foodisson, based in Busan, the representative seafood distribution area in Korea, has secured a favorable position for stable supply and market development from the early stage through partnerships with seafood manufacturing and wholesale specialized companies, so a solid start is expected after the full-scale service launch.
Also, by introducing live fish boxes made of eco-friendly materials that can be used semi-permanently, small quantity orders have become possible, resolving the limitations of the existing live fish truck distribution method and the inventory burden on business owners.
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Huh Jae-kyun, Executive Director of Hite Jinro's New Business Development Team, said, "We will continue to support Foodisson for business growth such as marketing and distribution," and added, "As the online market gradually expands and consumer demands diversify, we plan to continue investing in startups in various fields that fit the changing social consumption structure, including consumer goods and services beyond daily life."
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