Daesang expands Korean food plants in Vietnam on local demand

Daesang Corp., a major South Korean food company, said Monday it has expanded production facilities for Korean food in Vietnam to meet growing local demand. Daesang has invested 30 billion won (US$22 million) to sharply increase the annual output capacity of a dried laver plant in Hai Duong and a meat-processing plant in Hung Yen, the company said in a statement. In the expanded Hung Yen plant, the company plans to roll out kimchi products and convenience foods, such as spring rolls, and Vietnam's traditional steamed port buns, banh bao, the statement said. Daesang currently has six overseas K-food plants -- two in Vietnam, one in Indonesia, two in China and one in the United States, as well as four food ingredients plants -- two in Vietnam, one in Indonesia and one in the Philippines. The company plans to complete its seventh overseas K-food processing facility in Poland next year. In the January-March period, Daesang's net profit jumped 53 percent to 20.67 billion won from 13.51 billion won a year ear lier. Source: Yonhap News Agency