Lotte Wellfood Awarded '100 Million Dollar Export Tower' on the 60th Trade Day

Global Exports of 133.3 Billion KRW Last Year
27% Growth Compared to the Previous Year

Lotte Wellfood announced on the 6th that it received the '100 Million Dollar Export Tower' award at the 60th Trade Day ceremony.

Lotte Wellfood's 100 Million Dollar Export Tower and the 60th Trade Day Commemorative Coin
[Photo by Lotte Wellfood]

The Export Tower award ceremony is held annually on December 5th, Trade Day, under the auspices of the Korea International Trade Association. The association awards the 'Export Tower' to companies that have contributed to Korea's international status and economic development over the past year.

Lotte Wellfood operates 17 factories nationwide, including in Seoul, Yangsan, Pyeongtaek, and Daejeon, producing and selling products such as confectionery, bakery, meat processing, dairy products, and home meal replacements (HMR). Based on these domestic production facilities, the company is expanding exports through local corporate sales networks by utilizing its global local subsidiaries network in seven countries: Pakistan, Myanmar, India, Singapore, Russia, Kazakhstan, and Belgium. Last year, about 20% of Lotte Wellfood's total sales were generated through global business. The company's global exports grew by 27%, from 105 billion KRW in 2021 to 133 billion KRW in 2022.

Lotte Wellfood also contributed to the expansion of K-food exports led by Pepero. This year, it selected the popular group NewJeans as its model and conducted a global campaign, selling products in more than 50 countries, including Southeast Asia centered on the Philippines, as well as the United States and the Middle East. Going forward, the company has established a strategy to expand production bases in seven key regions and secure future growth engines to continuously expand its global business.

A Lotte Wellfood global business official stated, "We will strive to continuously expand exports through local subsidiaries as well as large distribution networks such as global COSTCO and the Philippines' S&R."

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