Lotte Foods announced Monday it acquired a 19.6 percent stake in meal kit start-up Food Assemble for 6.5 billion won ($5.27 million) to widen its product offerings.
The two biggest meal kit manufacturers merged, creating a new colossus in the home meal replacement (HMR) business.
Take out, delivery food, meal kits and ready-made food are popular in Korea these days, but people are starting to worry about the hidden costs of convenience.
Korea’s meal kit market is growing rapidly during the pandemic, and small startups are leading the rise.
Foovement, a new meal kit company, offers a variety of vegan and special options to make dining at home more interesting. The company has been offering meal kits in eco-friendly packages since its launch this month.
Korea JoongAng Daily Sitemap