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Masan Consumer subsidiary teams up with Jinju Ham

Released at: 18:24, 03/07/2018

Masan Consumer subsidiary teams up with Jinju Ham

Photo: Masan Consumer

Saigon Nutri-Food and Jinju Ham form strategic partnership to deliver delicious and innovative processed meat products.

by Minh Do

Masan Consumer Corporation (UPCoM: MCH), announced on July 2 that its wholly-owned subsidiary the Saigon Nutri-Food JSC (SNF) has signed a strategic partnership with the Jinju Ham Co., a leading South Korean processed meat producer.

Jinju Ham acquired a 25 per cent stake in SNF via a primary issuance and the entity will be renamed “Masan Jinju”.

“Our aim is to improve the experience of Vietnamese consumers by providing innovative and delicious products,” said Mr. Truong Cong Thang, Masan’s Chairman and CEO. “We will not only develop products that are delicious but will also focus on nutrition and affordability. I look forward to partnering with Jinju to transform the processed meat segment and deliver on our mission in the near future.”

Vietnam’s processed meat market has the same dynamics as South Korea and China’s 20 years ago; in its early stages of development and contributing less than 1 per cent to the overall meat market. “We believe that synergizing our respective platforms will enable Masan Jinju to drive up processed meat’s contribution to 20-50 per cent over the long-term, similar to China and South Korea today,” said Mr. Park Jungjin, CEO of Jinju Ham. “Our objective is to be at the forefront of this transformation and build a leading position over the course of the next five years,”.

New innovations under the strategic partnership are expected to be launched in the second half of this year.

Jinju Ham, established in 1963, is the oldest sausage producer in South Korea, with market leading positions in the sausage and home meal replacement segments. It has over 30 years of experience in the processed meat market and has developed best-in-class R&D and technological know-how.

The strategic partnership will create significant synergies that will ultimately benefit Vietnamese consumers: combining Jinju Ham’s cutting-edge know-how with Masan’s deep understanding of Vietnamese consumers and brand building capabilities.

Masan Consumer Corporation, a subsidiary of Masan Group Corporation, is one of Vietnam’s largest branded food and beverage companies with market leadership in large consumer categories such as seasonings, convenience food, and beverages.

Its portfolio includes some of Vietnam’s most trusted and loved brands such as Chin-su, Nam Ngu, Tam Thai Tu, Omachi, Kokomi, Vinacafé, Wake-Up, Vinh Hao, and Quang Hanh.

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