Press Release

 

 

 

 

 LG Household & Healthcare Co. Ltd. and its subsidiary Haitai Beverage Co. Ltd. agreed to take over Yungjin Pharm’s beverage unit with KRW 14.1 billion to expand its business in the segment.

 

 

LG Household & Healthcare Co. Ltd. and its subsidiary Haitai Beverage Co. Ltd. played a main role in the process and Haitai Beverage will secure the production facility, real estate, licensing, factory assets and stock for sale with KRW 7.1 billion, and LG Household & Healthcare will acquire trademark rights and intellectual rights with KRW 7 billion.

 

LG Household & Healthcare Co. Ltd. announced that the deal was made because it is poised to deal with requirements caused by the growing FoSHU (Foods for Specified Health Use) market due to ever-increasing attention on health, and add to its share of the market.

 

With the decision, the company is expected to consolidate its position in the beverage market by moving into the FoSHU market which totals KRW 800 billion encompassing invigorating drinks, health drinks, hangover relieving drinks, diet drinks and beauty drinks.

 

Yungjin's representative products include Yungjin Guronsan Vermont, Vita-C Gold, Red Ginseng Extract, and Q-Ten.