Poultry Processing Company Olpum Signs 200 Billion KRW Investment MOU with Gyeongbuk Province and Sangju

Expansion of Site by 9,043㎡ and Creation of 70 New Jobs by 2024

Gyeongsangbuk-do and Sangju City signed a memorandum of understanding for an investment worth 200 billion KRW with Olpum on the 21st.

[Asia Economy Yeongnam Reporting Headquarters, Intern Reporter Lee Seryeong] Investment from large corporations continues in Sangju City, Gyeongbuk Province, bringing vitality to the local economy.

On the 21st, Gyeongsangbuk-do and Sangju City signed a memorandum of understanding (MOU) worth 200 billion KRW with Olpum, a poultry meat processing specialist company.

The signing ceremony was attended by Lee Cheol-woo, Governor of Gyeongbuk Province; Kang Young-seok, Mayor of Sangju City; Kim Hong-guk, Chairman of Harim Group; Byun Bu-hong, CEO of Olpum; provincial and city council members; and heads of organizations.

Olpum planned to expand its processing facilities, including seasoning meat manufacturing equipment, to target overseas markets and quickly respond to the increasing demand for convenient meals mainly for single-person households by modernizing and expanding the factory facilities on its existing site in Sangju City.

They judged that modernization and expansion of facilities alone would not be enough to cover the shortage in production and storage capacity (CAPA), so they decided to completely review the existing investment plan.

With this investment agreement, Olpum will invest a total of 200 billion KRW by May 2024 to build a new slaughterhouse and expand poultry processing facilities on the existing factory site of 74,310㎡ and an expansion site of 9,043㎡ in Chosan-dong, Sangju.

By introducing the latest equipment, they plan to improve quality and increase production capacity, launch various product lines, and discover new markets, raising current sales from the 300 billion KRW level to 500 billion KRW.

They intend to prioritize local companies when carrying out various permits, civil engineering, and construction projects, and hire 70 new employees mainly from the local community.

CEO Byun Bu-hong said, “We will expand production capacity through facility expansion and diversify our business into the home meal replacement sector, where demand is expected to increase, striving to establish ourselves as an eco-friendly poultry specialist company.”

Mayor Kang Young-seok said, “I hope Olpum will stand tall as a leader in the poultry processing industry,” and added, “Gyeongbuk Province and Sangju City will actively cooperate to ensure the smooth progress of the project.”

Governor Lee Cheol-woo said, “Following SK Materials’ investment in a secondary battery material factory last September, it is very meaningful that Olpum’s large-scale investment is taking place,” and added, “I hope Olpum will grow into a global comprehensive food company that captivates consumers’ tastes in the clean area of Sangju.”

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