On the occasion of its 40th anniversary, Pulmuone has expressed its determination to grow into the global number one “sustainable food company.”
On March 28, the company held the “2024 Pulmuone Open Shareholders’ Meeting” at the Science and Technology Convention Center in the Gangnam district of Seoul.
Lee Hyo-yul, CEO of Pulmuone, stated, “As we enter the era of the Fourth Industrial Revolution, just as we have pioneered and led the way for the past 40 years, we will dramatically enhance our capabilities in the future growth engine, accelerate digital transformation (DX) and process innovation (PI), significantly increase shareholder value, and fulfill our social responsibilities to stakeholders to the best of our abilities.”
Pulmuone plans to prioritize strengthening its business through four core strategies: expanding sustainable food products, expanding into global markets, enhancing environmental, social, and governance (ESG) management, and preparing for the future through food technology.
CEO Lee reiterated his determination to achieve the target of reaching annual sales of 4 trillion won (approximately US$2.96 billion), which he announced upon assuming office. He forecast a 10 percent growth for this year compared to last year, which recorded the highest performance in history.
Pulmuone plans to grow into a “global food company” with annual sales of 4 trillion won through two main strategies: expanding its alternative food brands such as alternative meat and boosting overseas sales. In August 2022, the company launched the alternative food brand Pulmuone Earth Diet to expand the reach of sustainable foods. Pulmuone aims to increase the annual sales of sustainable foods to 1.7 trillion won by 2027, accounting for 65 percent of total sales.
It is also introducing customized brands targeting not only domestic but also overseas consumers. In the United States, Pulmuone is expanding sustainable foods under the brand “Plantspired,” while in Japan, it's introducing the brand “Toffu Protein.” The company plans to expand its global market focus beyond the three main hubs of the United States, China, and Japan to include Southeast Asia, Canada, and Europe.