Daesang Corporation, a leading food producer in South Korea, is taking over a Vietnamese meat processing company to target the refrigerated ham market in Southeast Asia. The company recently announced that it signed an agreement with Duc Viet Food Joint Stock Company, a processed meat producer in Vietnam, to acquire its shares for USD 31.97 million. It will secure 13 million shares, or 99.99%, of Duc Viet Food by August. With the latest contract, Daesang plans to expand its market to Southeast Asia, including Thailand, Cambodia and Indonesia, based on the Vietnamese market. In the long term, the company will strengthen the competitiveness in processing meat through Duc Viet Food and target the domestic refrigerated ham market in earnest.
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