CJ Group, a Korean conglomerate, has announced plans to expand its presence in Vietnam's food market.
VietnamNet reports that the company plans to invest US$63 million in Vietnam in order to build a factory which would produce dumplings and other types of processed food. The factory will be located in Saigon and produce roughly 60,000 tons of frozen food annually.
CJ Group, South Korea's largest food corporation, already has an extensive presence in Vietnam. Its Tous Les Jours bakery brand first appeared in the country in 2007, and there are now over 30 outlets nationwide.
It also bought Ong Kim, a local kimchi brand, in 2016, the news source shares, in addition to owning stakes in major food producers like Vissan and Satra.
The conglomerate also owns CGV cinemas, which has 40 outlets in 12 cities, making it the leading movie chain in Vietnam.
[Photo via CJ Group]
