With its superior cost effectiveness rapidly going viral, it was in short supply.Thanks to Gourmet Hamburger Steak, CJ Cheiljedang chalked up sales of 25 billion won until early May. This figure is equivalent to 70 percent of last year's total sales of 35 billion won.
On the back of the growth of the HMR market, CJ Cheiljedang enjoyed a 9.3-percent growth in sales in the first quarter of this year.
Korea's food industry is regaining vigor again in five years thanks to the emergence of the new HMR market plus the decline in international grain prices, which would likely to lead an improvement in the industry's overall profitability.
In addition, the consumer sentiment that hit the bottom last year is showing signs of recovery and China's THAAD retaliatory measures are easing.
Industry experts expect the expansion of the HMR market, the settlement of the THAAD issue, and the recovery of consumer sentiment to contribute to increasing sales for the food industry.
The Military Mutual Aid Association, the Employment Insurance Fund and an unidentified South Korean institutional investor have committed a total of $110 million to LaSalle Investment Management’s 804 million-pound ($1 billion) debt fund focusing on the UK and western Europe.&hellip
Private equity firm KKR & Co. and the Public Officials Benefit Association (POBA) have put two commercial buildings in South Korea up for sale separately, in transactions expected to fetch a combined $1 billion and in what would be KKR’s&hellip
The Public Officials Benefit Association (POBA) will select two to three US private debt fund houses to make senior secured, direct lending of around $150 million to US mid-market companies with sales of $50 million to $1 billion. The amount&hellip