Hyundai Green Food Collaborates with NongHyup Economic Holdings to Expand Distribution Channels for Domestic Agricultural Products
Published 19 Apr.2023 09:37(KST)
MOA Signed to Expand Market Channels for Domestic Agricultural Products
Cooperation to Diversify Market Channels for Domestic Agricultural Produce
Hyundai Green Food, a comprehensive food company affiliated with Hyundai Department Store Group, announced on the 19th that it has signed a Memorandum of Agreement (MOA) with NongHyup Economic Holdings to expand the market for domestic agricultural products.
![On the 19th, at the NongHyup Central Association headquarters in Jung-gu, Seoul, Park Hong-jin, President of Hyundai Green Food (left), and Woo Seong-tae, CEO of NongHyup Economic Holdings, are posing for a commemorative photo after signing a Memorandum of Agreement (MOA) to expand the market for domestic agricultural products. <br>[Photo by Hyundai Green Food]](http://www.asiae.co.kr/news/img_view.htm?img=2023041909342193682_1681864493.jpg)
On the 19th, at the NongHyup Central Association headquarters in Jung-gu, Seoul, Park Hong-jin, President of Hyundai Green Food (left), and Woo Seong-tae, CEO of NongHyup Economic Holdings, are posing for a commemorative photo after signing a Memorandum of Agreement (MOA) to expand the market for domestic agricultural products.
[Photo by Hyundai Green Food]
Through this MOA, both companies have agreed to actively implement key cooperation measures including ▲diversifying sales channels for domestic agricultural products using both companies' distribution networks ▲expanding joint sales cooperation channels for surplus agricultural products ▲improving logistics efficiency through joint use of both companies' logistics centers ▲joint development of idle real estate owned by NongHyup Economic Holdings and joint use of rental stores.
In particular, Hyundai Green Food plans to actively utilize NongHyup’s excellent agricultural products and goods as ingredients for over 550 group meal service locations and more than 100 dining establishments. Additionally, to promote the sales of domestic agricultural products, the company intends to actively leverage various online and offline distribution channels such as its official online mall, Greeting Mall, and Hyundai Department Store food halls.
NongHyup plans to sell Hyundai Green Food’s excellent Home Meal Replacement (HMR) products through its extensive distribution network and conduct joint promotional events with Hyundai Green Food for surplus agricultural products that face difficulties in securing sales channels.
Park Hong-jin, CEO of Hyundai Green Food, stated, “We will contribute to expanding the sales of fresh and safe domestic agricultural products to benefit both local farmers and consumers,” and added, “We will continue to pursue various measures to revitalize the local economy and promote mutual growth together with NongHyup.”
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