OURHOME holds pledges to leap forward to 'NEW OURHOME'.

Vice Chairman Koo suggests 2023 management plan and mid- to long-term strategies

Sales of KRW 1.83 trillion in 2022 and operating profit KRW 57 billion turnaround thanks to the expansion of overseas business and business diversification

Increasing the proportion of overseas business is a necessity,setting leading global companies as competitors

SEOUL,South Korea,Jan. 9,2023 -- OURHOME,a global food company based in Korea,held an on∙offline 2023 kick-off ceremony and pledged to take a new leap forward.

OURHOME CI

OURHOME's 2023 kick-off ceremony was held at its headquarters located in Magok in Korea. Employees working in Korea attended the event with other employees working in overseas branches such as the US,Europe,and Vietnam through online live meetings. On this day,Ji-eun Koo,vice president and CEO of OURHOME,gave a presentation of "2023 Management Plan and mid/long-term strategies" to all executives and employees. With the successful achievements in 2022 in the beginning,the presentation covered the company's future vision including key tasks and management goals for 2023.

Koo expressed her gratitude and encouragement to employees "For the first time since its foundation,the proportion of sales from overseas corporations in 2022 exceeded 10% of total sales. Our customer satisfaction exceeded expectations through active management strategies such as close communication with clients,and establishment of a K-Food corner. She added,"In 2022,our meal care business division at home and abroad created several new customers,and the HMR business division was effective in targeting the B2C market with market-leading,high-quality food. Last year we laid the foundation for the future,achieving research and development of Care Food and Medifood,and obtaining the industry's first manufacturing infrastructure,'Zero Waste to Landfill' platinum rating."

Koo also said,"We need to combine our strength with the global mega trend. Now we live in an era where only companies that provide products and services multidimensionally through convergent thinking and capabilities can survive."

Koo emphasized,"This year,it is necessary to move toward 'NEW OURHOME' by accelerating global market penetration,introducing PI (Process Innovation) and food tech,and strengthening digital capabilities. Like global leading companies,increasing the proportion of overseas business is not an option,but a necessity and let's move beyond Korea and set global companies such as Compass and Sodexo as competitors from this year".

OURHOME,a global food company,started the catering and food ingredient supply business for the first time in Korea in 1984,and has grown into a leading catering company that provides 1 million meals a day at about 850 customers' business sites. In particular,its manufacturing and distribution infrastructure,based on 9 production facilities and 14 logistics centers at home and abroad,and experiences accumulated over 40 years are considered to be the great strengths of OURHOME. In addition,the food service business is being expanded in 4 countries including the United States,China,Poland,and Vietnam. HACOR,a U.S. corporation,is actively operated in the in-flight catering business in the country.

In 2010,OURHOME became the first Korean company to enter the Chinese catering market,anchoring overseas market development. The company currently has 4 corporations in China and is operating 38 stores in 10 cities including Beijing,Nanjing,Guangzhou,Tianjin and Yantai. With the establishment of a Vietnamese corporation in 2017,OURHOME expanded its overseas business area,having won an order for the first group catering store. Last year,it opened an additional 13 stores and the business is growing rapidly in the Vietnamese market. Currently,OURHOME is operating 45 stores in Vietnam. This is a significant achievement of entering the market in 5 years.

In 2021,OURHOME became the first catering company in Korea to sign a consignment operation contract with the United States Postal Service (USPS) for a cafeteria business. It also won an order to operate 15 restaurants in the LG Energy Solutions' battery plant located in Wroclaw,Poland in 2022. Currently the company is concentrating on expanding its overseas business by managing the cafeteria of LG Electronics' New Jersey headquarters with a capacity of about 1,000 meals.

OURHOME plans to accelerate its market penetration by targeting 30% of its overseas business by 2025 based on thorough localization,customized food service,and global top hygiene and safety management capabilities. Currently,the US and European corporations are seeking new opportunities and plans to explore new markets.

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