404Nongshim establishing instant soup JV with Ajinomoto - NSP NEWS AGENCY(English)
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Nongshim establishing instant soup JV with Ajinomoto

NSP NEWS AGENCY, By YEON SUN HAN Journal, 2018-01-11 10:53 END7

(Seoul=NSP News Agency) YEON SUN HAN Journalist = Nongshim Co.will set up a joint venture with Ajinomoto for the production of Vono soup in Korea.

Nongshim held a ceremony for signing JV contract for the production of instant powdered soup at the headquarters of Ajinomoto in Tokyo on May 21, attended by about 10 people including Mr. Nongshim Park Jun and President Akihito Nishii Takaaki.

In accordance with the agreement, the company will begin constructing the factory in the Pyeongtaek Nongshim Logistics Center site located in Gyeonggi Province in the first half of 2018. It is scheduled to be completetd at 2019. Nongshim and Ajinomoto will have 49 to 51 percent of its capital consecutively.

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Nongshim plans to prepare for the growing instant soup market by strengthening its powdered soup brands, and plans to continue developing products suitable for the Korean market in the future.

NSP News Agency/NSP TV YEON SUN HAN Journalist, hanys4017@nspna.com
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