Onggo Farming Association Corporation receives the 2024 Korea Innovation Award

Onggo Farming Association Corporation (CEO Lee Ki-won) won the grand prize in the living culture (chapter) category at the Money Today ‘2024 Korea Innovation Awards’ held at the Press Center in Jung-gu, Seoul on the 25th.

Lee Ki-won (right), CEO of Ongo Farming Association Corporation, is taking a commemorative photo with Money Today Executive Director Song Ki-yong (left) after winning the ‘2024 Korea Innovation Award’.

The Korea Innovation Award is an award established to recognize and encourage the consistent contributions of innovative companies in technology, management, and products, in line with the current situation where government efforts and nationwide participation are required to overcome the economic recession.

Founded in 1995, this company is an innovative company that produces traditional sauces and processed products such as red pepper paste, soybean paste, soy sauce, and cheonggukjang. It changed its name in 2006 and began expanding its business area. Traditional sauces and processed products such as red pepper paste, soybean paste, soy sauce, and cheonggukjang are exported to more than 10 countries, including Saudi Arabia, Kuwait, Singapore, and Indonesia.

The company, which achieved sales of 2.6 billion won last year, aims to achieve sales of 3 billion won this year. In particular, it has shown high export performance, recording 400 million won in exports this year (a 74% increase from the previous year), suggesting a path forward for food companies even in a rapidly changing global market.

It is characterized by selecting and supplying 100% domestic raw materials through contract farming with the Onggojip crop team and sticking to the method of making the sauce directly in earthenware jars, which adheres to the traditional method.

According to Ongojip Agricultural Cooperative Corporation, research and development (R&D) is being strengthened to develop cooking recipes that take into account the tastes of local people in each country for export products. The goal is to expand local market share through customized strategies for each country, such as making powder using freeze-drying techniques for convenient export. We plan to strengthen our brand line by introducing various products such as tteokbokki sauce, bulgogi sauce, rib seasoning sauce, black bean sauce, and barbecue hot sauce.

Lee Ki-won, CEO of Onggo Farming Association, said, “We will continue to strive to revitalize the local economy and make continuous efforts to promote the excellence of Korean traditional soybean paste to the world.”

[저작권자 @머니투데이, 무단전재 및 재배포 금지]