Miljip Co., Ltd. (Co-CEOs Hwang In-beom and Song Seok-min) and Lotte Aluminum Co., Ltd. (CEO Choi Yeon-su) signed a contract for joint development, production, and sales of a ‘frozen kimbap bending machine.’
Miljip Co., Ltd. (hereinafter Miljip) and Lotte Aluminum Co., Ltd. (hereinafter Lotte Aluminum) have signed a joint development contract for a ‘frozen kimbap bending machine’ and will begin production and sales of the ‘frozen kimbap bending machine.’
The 'frozen kimbap bending machine' proposed by Miljip and jointly developed with Lotte Aluminum will be exclusively produced by Lotte Aluminum, and Miljip will exclusively sell it worldwide. Through this contract, Miljip has secured exclusive sales rights worldwide. Miljip's global bending machine platform business is also expected to gain further momentum.
Frozen kimbap is gaining attention as an attractive lunch alternative in the era of lunchflation around the world. Frozen kimbap is a good choice for consumers because of its healthy ingredients and reasonable price, but it has the limitation of being consumed mainly at home because it requires a freezer and microwave for cooking.
However, the 'frozen kimbap vending machine' jointly developed, produced, and sold by Miljip and Lotte Aluminum allows for the immediate consumption of frozen kimbap after purchase through the warm-up function within the vending machine. It is expected to bring about innovation that overcomes the limitations of existing distribution methods.
In particular, the 'frozen kimbap vending machine' is expected to bring about new changes to the global distribution market through the platform business model. 'Frozen kimbap vending machines' will be installed in airports, hotels, large shopping malls, large office buildings, schools, hospitals, etc., allowing consumers to conveniently purchase frozen kimbap at any time and eat it on the spot.
The food and convenience food consumption culture using vending machines is also spreading in the North American market. According to a survey in the United States, 18% of respondents said they use vending machines to solve lunch. Driven by this trend, the North American vending machine market is expected to reach a size of $6.3 billion by 2023 and grow rapidly at an average annual rate of 14.9%.
Miljip CEO Hwang In-beom said, “We are paying attention to the global lunch market and the growth of vending machines in the North American market. The global convenience food market is expected to grow to 1,256 trillion won by 2032, and the demand for ‘frozen kimbap vending machines’ is expected to increase explosively. Miljip’s vision and goal is to become the number one company in the global convenience food market through the vending machine platform business.”
CEO Hwang continued, “Along with the ‘frozen kimbap vending machine,’ we are also preparing ‘MAPDAL BUNSIK.’ ‘MAPDAL BUNSIK’ is a K-Culture Space where you can enjoy Korean snacks, K-POP, K-DRAMA, etc. using the vending machine. We will create an innovative space where the global Jalpa generation who love Korea can gather and share K-Culture.” He revealed his future aspirations.
Meanwhile, Miljip aims to become a company that provides solutions that change the lunch culture of people around the world by installing and operating more than 10,000 frozen kimbap vending machines in global markets including the U.S. within 5 years.
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