SEOUL – Dongwon F&B, a leading South Korean food company, announced on February 11th that it has achieved significant profit growth in 2024, driven by a surge in overseas exports.

According to the company's preliminary results, consolidated sales for 2024 reached 4.48 trillion KRW, an increase of 2.8% compared to the previous year. Operating profit also saw a substantial increase of 10.0%, reaching 183.5 billion KRW.

On a separate basis, sales increased by 2.7% to 2.04 trillion KRW, while operating profit grew by 18.5% to 113.6 billion KRW. The company attributed the strong performance to increased sales of its signature products such as anchovy sauce and holiday gift sets, as well as steady growth in its home meal replacement (HMR), beverage, and dairy businesses.

Notably, operating profit from overseas exports increased by more than 50% year-on-year, contributing significantly to the company's overall profitability.

Dongwon Home Food, a subsidiary of Dongwon F&B, also reported strong results. The group catering business achieved double-digit growth, while the seasoning food business saw steady growth in both domestic and international markets, driven by the success of its low-sugar, low-calorie sauce brand "Vivid Kitchen."

A spokesperson for Dongwon F&B commented, "We achieved solid results thanks to improved profitability in overseas exports and the growth of our subsidiary, Dongwon Home Food. We will continue to enhance the competitiveness of our existing businesses through active R&D and establish a mid-to-long-term strategy to expand our leading products."

This impressive performance in 2024 underscores Dongwon F&B's strong position in the global food market and its ability to capitalize on growth opportunities in overseas markets. The company's focus on R&D and product innovation is expected to further drive its growth in the years to come.