New Home for Kellogg's Asian HQ
Kellogg Co., one of the world's leading cereal makers, said it has moved its Asian headquarters from Singapore to Seoul. Kellogg's main Asian office has opened in a high-rise tower in southern Seoul, the company said.
Shin Hyun-soo, head of Kellogg Asia, said the move was based on the potential and strategic location of the South Korean market.
"South Korea accounts for a quarter of our Asian sales," Shin said. "It can serve as our Asian hub, given its proximity to Japan and China."
South Korea and Japan comprise nearly 80% of Kellogg's total cereal sales in Asia, with China likely to grow into a major market in the future, he added.
The company entered the South Korean market by establishing a joint venture with Nongshim Co., a domestic food maker, in 1980. Nongshim-Kellogg currently dominates the local cereal market with a 52% share.
Source: Asia Pulse