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Kormotech Expands Reach to South Korea’s Pet Food Market

Nancy by Nancy
09/07/2024
in pet knowledge
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Kormotech, a leading pet food producer based in Lviv, Ukraine, has made a significant stride by becoming the first Ukrainian company to export pet food to South Korea. The company’s renowned super-premium brands, Optimeal for dogs and cats, along with Club 4 Paws for premium offerings, are now available on specialized online platforms in South Korea.

Eduard Babenko, overseeing strategic business in Ukraine, Moldova, and Southeast Asia, highlighted the strategic importance of the South Korean market, ranking third in East Asia after China and Japan. “The market’s substantial size, three times larger than Ukraine in monetary terms, underscores its potential,” he stated. Babenko also noted the unique dominance of online channels, accounting for 67% of pet food sales in South Korea, the highest globally according to Euromonitor.

Negotiations with South Korean distributor Careside Co. Ltd. began last year, culminating in a cooperation contract signed in the fall. Vladyslav Mazurkevych, responsible for expanding export markets in Asia, confirmed the successful arrival of the first shipment comprising 24 tons of Optimeal and Club 4 Paws products by late May this year. As of June 17, these products have been launched on 12 major e-commerce platforms in South Korea, including Naver, Coupang, and G-market.

Looking ahead, Mazurkevych expressed plans to expand into pet store chains and veterinary clinics by year-end, aiming to enhance product visibility and customer engagement.

CEO You Young Kook of Careside Co. Ltd. praised Kormotech’s international success and emphasized the high-quality standards and rigorous quality control of their pet food products. “The discerning South Korean consumer will appreciate the commitment to pet health and well-being,” Kook remarked.

Babenko emphasized the meticulous nature of South Korean consumers and business partners, highlighting Careside Co. Ltd.’s constructive approach and high standards for partnership. He noted that Kormotech’s turnover reached $152 million last year, with foreign sales comprising 31% of the total, reflecting the company’s growing international footprint.

In terms of market expansion, Kormotech reported significant growth in Romania (+35%), Poland (+11%), and Moldova (+11%) compared to the previous year. The company also expanded its presence to 42 countries worldwide, maintaining its leading position in the Ukrainian market.

Kormotech’s success in entering the South Korean market underscores its capability for global cooperation and strategic growth in the competitive pet food industry.

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Nancy

Nancy

Nancy Anderson, was born in the U.K., but grew up in the United States before returning to the U.K. for her secondary and university education. In 2003 she graduated from the Royal (Dick) School of Veterinary Studies, Edinburgh, Scotland, concentrating on small exotic mammals in her final year. After qualification Nancy spent her first 3 years working in and around London, as well as travelling abroad to aid in charity veterinary work. She then returned to America where she initially worked at Small Animal and Exotic Hospital, and gained valuable specialised experience working with small exotic mammals. Nancy’s personal areas of interest include providing a holistic approach towards animal welfare, preventative healthcare and husbandry to create a healthy happy environment for the entire family.

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