[FOCUS] Food company Ottogi outshines top conglomerates in presidential garden party

By Lim Chang-won Posted : July 28, 2017, 11:10 Updated : July 28, 2017, 18:12

[Ottogi Website]


Ottogi, which means a roly-poly toy, stole the show at a special session arranged by President Moon Jae-in to brainwash top conglomerate leaders, standing gloriously as a model of good behavior in South Korea's distorted business culture tainted with corruption, abuse and unfair practice.

Positioning Ottogi chairman Ham Young-joon just beside him, Moon surprised other prominent guests from top conglomerates, invited to the opening session Thursday of his two-day meeting at the presidential Blue House.

That's an intentional seating plan to give prominence to Ham who probably had never been invited to occasional high-profile presidential meetings under the rule of Moon's predecessors.

Ottogi, a food company with total assets standing at about 1.6 trillion won (1.4 billion US dollars), was founded in 1969, commercializing ready-to-eat curry products for the first time in South Korea. Following its successful launch of its signature three-minute meals in 1981, the company has expanded its business portfolio to provide dietary supplements in 2011 under the brand called NatureBy.
 

President Moon Jae-in (left) and Ottogi Chairman Ham Young-joon [Yonhap Photo]


Products include ketchup, mayonnaise, curry, instant food, condiments, instant noodle, frozen food and tea. The company has successfully defended its domestic turf in competition with multinational manufacturers such as H. J. Heinz.

Ottogi's business success is not all. The company maintains a good reputation among domestic consumers as a reliable company being actively engaged in corporate social responsibility programs that included scholarship, food assistance for the elderly, support for children with cardiac disease.

Ottogi has been well known for transparent management and fair treatment of about 3,000 employees. Its positive image received widespread media attention last year when Ham promised to pay half of what he received from his late father as inheritance tax.

For half an hour, Moon opened Thursday's meeting over beer in the presidential garden before going into a closed meeting for three hours. Aides stressed that the meeting defied "all formalities" with no set agenda for free and candid discussions.

Thursday's meeting helped Ottogi boost its brand image. "I think the government and many other businesses should take Ottogi as the role model," wrote Jangnanhanya, a Daum portal user. "The company should grow to become the No.1 company."
 

Ottogi manufactures a variety of food products including instant noodles, instant curries and sauces such as tomato ketchup and mayonnaise. [Ottogi Website]



Another user called "Chammagae" said: "Ottogi is not perfect but the way it tries to run a fair business is a fresh shock to us."

Ham's presence in the Blue House meeting was shown up well against the fall of Jung Woo-hyun, the founder of South Korea's major pizza chain, Mr. Pizza Korea (MPK) Group, who was indicted this week on embezzlement and other charges.

Prosecutors accused Jung and his family of privatizing the pizza group for "self-satisfaction" and leading a fancy life with company funds. Jung became the first group head to be punished since Moon took office in May with a pledge to eradicate unfair business practices and stop big companies from abusing their dominant power.

 
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