Bong Group Achieves 330 Billion KRW in Sales... 20.48% Increase Year-on-Year

Bong Group Headquarters, Yeongdeungpo-gu, Seoul.

[Asia Economy Reporter Moon Hyewon] Bon Group (BonIF, Bon Food Service, Sunsubon) announced on the 13th that its consolidated sales last year reached 330 billion KRW, marking an all-time high.

Sales increased by 20.48% compared to 2020 (273.9 billion KRW), and operating profit rose by 264% in one year to 14.1 billion KRW.

BonIF, a Korean food franchise, recorded sales of 248.2 billion KRW, up 27.2% from 195.2 billion KRW in 2020, and operating profit surged 167% from 6.4 billion KRW to 12.4 billion KRW during the same period. Both the headquarters and over 2,000 franchise stores nationwide saw increases in annual and monthly sales.

Bon Food Service, a corporate catering and food distribution company, also succeeded in turning a profit amid the COVID-19 crisis. Last year, Bon Food Service’s sales grew approximately 29.6% year-on-year to 75.8 billion KRW, and operating profit turned positive at 1 billion KRW. Bon Group explained that this achievement is significant as it reflects improvements in the corporate catering business model through expanding orders from profitable sites such as industrial complexes and raising prices by enhancing customer satisfaction, despite the challenging business environment caused by the pandemic.

Sunsubon also recorded its best-ever performance last year through its baby food and home meal replacement (HMR) businesses. Sunsubon’s sales last year were 26.3 billion KRW, up about 21% from the previous year, and operating profit increased by approximately 156%. Sales of baby food and HMR were 8.2 billion KRW and 18 billion KRW, respectively, growing 26% and 18%, showing growth in both key businesses. Sunsubon plans to focus on enhancing customer satisfaction by strengthening services based on customer demand.

Bon Group plans to pursue growth by focusing on discovering new businesses based on the core competencies of its existing operations.

A Bon Group official said, “Having established roots through the ‘liquid diet’ business and built a solid foundation with ‘Korean food,’ we will expand our branches as a ‘franchise specialist company’ encompassing non-food and non-Korean food sectors, starting from this year, the 20th anniversary of the group’s founding.”

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