The Born Korea CEO Paik Jong-won’s global push is taking shape through initiatives spanning restaurant brands, local sauce production and distribution networks in North America.
The Born Korea said Tuesday that Paik recently signed a memorandum of understanding with Sunray Group, a major Canadian hotel and real estate company, for cooperation in the restaurant business. Paik also held talks with major Canadian food distributors on expanding sales and distribution of The Born Korea, or TBK, sauces and other products, during his business trip to North America, which began Aug. 2.
Sunray Group operates about 80 hotels in Canada under brands including Marriott, Hilton and Hyatt. Under the agreement, the two companies plan to convert a Sunray-operated store in Markham in the Greater Toronto Area into a restaurant under one of The Born Korea’s brands. They said they are working on selecting the brand and drawing up detailed plans for the store’s operation.
Starting with the Markham project, the two sides are also considering introducing additional The Born Korea restaurant brands at hotels and commercial facilities owned by Sunray.
During his trip to Canada, Paik also met with executives from two major food distribution companies to discuss expanding local distribution of TBK sauces and other The Born Korea products.
In the United States, The Born Korea said it is working with a global food company on local production of the business-to-business sauces used at its Chinese food chain, Hong Kong Banjum. Production will begin with the brand's sweet-and-sour pork sauce and eventually extend to other key sauces used at The Born Korea’s restaurants.
The Born Korea plans to use the US partner’s production facilities as a key supply hub for its expansion across North America by reducing logistics costs and shortening supply lead times while establishing a stable supply system capable of supporting the expansion of its restaurants and distribution business in the US and Canada.
On top of this, The Born Korea is working on the joint development of home meal replacement products with the global firm, targeting North American consumers.
“Business opportunities that CEO Paik Jong-won identified firsthand overseas are leading to concrete partnerships with local companies,” said a The Born Korea official.
“By combining The Born Korea’s brand and product development capabilities with the production and distribution networks of local companies, we will continue to expand our global business achievements, from restaurant openings to product production and distribution.”
By Kan Hyeong-woo (hwkan@heraldcorp.com)
