Benecol products launched in South Korea
Raisio's Benecol partner in Korea, Lotte Foods Co. Ltd., has launched Benecol® yogurt drinks in the form of Health Functional Food in South Korea. The Benecol product launch in South Korea supports Raisio's aim to expand into new markets particularly in Asia and South America.
Lotte's Benecol products sold in South Korea combine the Benecol brand with Lotte's own dairy brand Pasteur. Pasteur Benecol yogurt drinks will be first available through Lotte's Home Delivery channel in February. During the spring, the distribution will be expanded to top three hypermarketsand convenience stores around Korea. Lotte's plan is to widen the distribution in the future to cover all major retailers in Korea.
According to Olavi Erkinjuntti, Sales Director of Raisio's Benecol ingredients & licensing business, the launch will further strengthen Benecol's position in the growing markets of Asia. "In addition to Indonesia, Thailand, Hong Kong and the Philippines, South Korea is the fifth country where Benecol operations are expanded to in Asia. South Korea is a prosperous country with some 50 million people and its consumer product market offers attractive growth opportunities for Benecol. According to the World Health Organisation (WHO) more than 40 per cent of the country's population has elevated cholesterol levels."
Lotte Foods is part of the Lotte Group, one of the largest consumer goods companies in Asia. Net sales of the Group were about EUR 60 billion in 2013. Lotte is among the best-known conglomerates in Korea and recognized throughout Asia. As our license partner, the company provides the Benecol brand with many opportunities. Lotte has, for example, made Finnishxylitol chewing gum a successful product in the Asian markets.
Raisio will actively continue its efforts to launch Benecol products into new markets, especially in Asia and South America. The latest example of this is the launch of Benecol products in Brazil late 2014.