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Dongwon Industries. (Photo: Yonhap News) |
[Alpha Biz= Paul Lee] SEOUL, July 4 — Dongwon Industries, the holding company of the Dongwon Group, announced that it has completed a comprehensive share swap to make Dongwon F&B a wholly owned subsidiary.
The move finalizes a restructuring strategy first announced in April, aimed at expanding exports and streamlining the group's business portfolio. Following board and shareholder approval, Dongwon F&B was delisted on June 31, and Dongwon Industries issued new shares to complete the swap. A total of 4,523,902 new shares have been issued, representing approximately 10.25% of the company’s total outstanding shares (44,147,968 shares post-issuance).
As part of its long-term roadmap, Dongwon Group recently launched a new Global Food Division, integrating four domestic and international food subsidiaries. The first phase focuses on unifying R&D and production capabilities between Dongwon F&B and Dongwon Home Food to drive innovation and pilot new initiatives.
A key pillar of this strategy is the expansion of the group’s global pet food business. Dongwon F&B plans to build a new overseas production line with capacity three times larger than its domestic facilities. The Starkist plant in American Samoa—a key overseas production base—is being considered for dedicated pet food line expansion.
Dongwon F&B has also recently appointed BTS member Jin as the new brand ambassador for Dongwon Tuna, launching limited-edition products. The company plans to begin exports of the product to the U.S., Oceania, and Southeast Asia starting this month, marking the beginning of its global brand expansion efforts.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
