HiteJinro to build soju plant in Vietnam

Covering 8.4 hectares, the factory is located in Lien Ha Thai Industrial Park, developed by Green i-Park. The company has selected this factory site in Thai Binh for its first overseas soju plant on the occasion of its 100th anniversary.

The factory is scheduled to be completed in 2026 and is expected to serve as a base for its expansion into the Southeast Asian market.

The representative of HiteJinro said, "We hope Thai Binh province and Green i-Park JSC will pay attention to the project so that we can accelerate the construction and put the project into operation. Thus, the factory will soon produce soju drinks to secure export volume as our sales volume expands."

Nguyen Khac Than, Chairman of Thai Binh People's Committee said, "We hope HiteJinro will soon break ground and expedite the implementation progress to roll out products into the market going forward. The province is committed to accompanying and supporting the company during the project implementation."

"With a goal to become a developed locality in the Red River Delta region, Thai Binh is always making efforts to create an open and attractive investment environment for domestic and foreign investors. Thai Binh Province also identifies Korea as a comprehensive strategic partner," he said.

The development of the Vietnam factory is part of its “Global Vision 2030″ plan to accelerate its leap forward as a global comprehensive liquor company.

As reported by The Korea Bizwire, the company aims to achieve 500 billion won ($360 million) in overseas soju sales in 2030 based on overseas production and export diversification.

The target figure is sharply up from Hitejinro’s annual overseas soju sales of $130 million for the whole of 2023. To facilitate the goal, Hitejinro will expand its overseas sales networks, build its first overseas plant in Vietnam, and explore new strategic markets in the coming years.

Source: VnEconomy