In order to survive the rapidly changing business environment in Korea leaders in the food sector are searching for new growth by forming alliances. Lotte Confectionary has made a bold move into the Korean cereal market by partnering with Pepsi Co. to manufacture Quaker under license. ‘Hot cereal’, more commonly known as porridge, is a new concept in Korea and Lotte Confectionary is banking on the strength of the Quaker brand to drive sales.
Dongwon F&B’s brand, Denmark, is collaborating with Korean startup ‘INTAKE’ to introduce the nation’s first ‘liquid meal’. Dongwon proudly states that instead of closing doors to start-ups with innovative ideas the company is working to create a ‘coexisting’ environment with smaller, younger companies. INTAKE is a pioneer in the meal alternative HMR (home meal replacement) sector and the partnership is seen as a positive move for Dongwon.