KB News Desk
Namyang Dairy Products said Friday it signed a memorandum of understanding with Mongolia’s leading food distributor, Maximus Distribution LLC, to expand exports of K-food products under a three-year, 10 billion won ($6.6 million) agreement.
The agreement was signed during the Korea-Mongolia Business Forum, an official event of the government-led economic delegation. It follows a separate three-year, 70 billion won export deal signed in Vietnam in April, marking Namyang’s second export agreement secured through a government economic mission this year.
Founded in 1999, Maximus Distribution operates a nationwide network of more than 13,000 retail outlets across Mongolia. Its distribution channels include major supermarket chains such as Nomin and Orgil, convenience stores including CU and GS25, as well as traditional markets and neighborhood grocery stores.
The latest partnership expands the companies’ cooperation beyond French Cafe instant coffee to a broader range of dairy products, particularly Korean raw milk-based infant formula.
Namyang attributed its overseas expansion to efforts to strengthen corporate governance and improve its core business competitiveness, citing the introduction of a professional management system, enhanced compliance practices and profitability-focused business restructuring.
The company expanded its presence in Mongolia by introducing its Take Fit Monster protein drink to major supermarkets in the second half of last year and launching the product at CU convenience stores in January.
It expects Maximus’ modern logistics infrastructure and cold-chain system to support broader distribution of its dairy products.
“Following Vietnam, we are pleased to establish another strategic partnership in Mongolia through the government’s economic delegation,” said Kim Seung-eon, CEO of Namyang Dairy.
“Building on the competitiveness of our Korean raw milk-based infant formula, we will expand cooperation across our dairy portfolio and strengthen the global competitiveness of K-food.”
