OTOKI(007310)'s ramen manufacturing subsidiary, Ottogi Ramen, will invest 200 billion won to build an export-dedicated ramen factory in Gumi, North Gyeongsang.
Ottogi Ramen said on the 13th that it signed a memorandum of understanding (MOU) with North Gyeongsang Province and Gumi City to build export-dedicated ramen production facilities. The company plans to invest 200 billion won through 2029 to build a new plant in the Gumi 2 National Industrial Complex.
Through this investment, the company aims to establish a production base to meet global export demand and use Gumi as a major hub for export-dedicated ramen production. The company said it plans to create 120 new jobs through the new plant.
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