Pulmuone sets goal to become top alternative food provider

[Courtesy of Pulmuone Co.]

South Korean food company Pulmuone Co. aims to achieve global dominance in the alternative food market based on its competitive edge in organic foods such as Korean tofu, accumulated over the past 40 years.

According to the company on Sunday, Chief Executive Officer Lee Hyo-yul expressed his aspirations to become the world’s No.1 sustainable food company, leading the future global K-food industry and bringing health and happiness to people worldwide.

His remarks were made at a recent commemorative ceremony held at the company’s headquarters in Gangnam, southern Seoul, to mark its 40th anniversary.

Lee also emphasized the company’s commitment to becoming a globally respected environmental, social, and governance (ESG) leader.

Starting as an organic produce direct market selling tofu and bean sprouts in Apgujeong-dong, southern Seoul, in 1981, Pulmuone has grown into a sustainable food powerhouse with sales nearing 3 trillion won ($2.2 billion).

The company’s revenue came to 2.99 trillion won last year, up 5.5 percent from a year ago, while operating profit surged by 135.4 percent to 62 billion won.

“Pulmuone started as Korea’s first organic food company in 1984 when the term organic was unfamiliar,” Lee said. “We have transformed the core values of food from simple taste and quantity criteria to safety, peace of mind, and nutritional balance.”

Pulmuone, which holds the top market share in tofu domestically, is also expanding its exports, particularly to the United States, where tofu and noodle products are gaining popularity.

Pulmuone entered the U.S. market in 1991 and has since expanded its local production through large-scale facility investments.

It has also expanded to China, Japan, and Vietnam, with local subsidiaries. Pulmuone expects to achieve a break-even point in its overseas business this year, driven by the recent surge in popularity of tofu and noodle products in the U.S. and other markets.

Pulmuone’s plans for sustainable growth revolve around four core businesses: sustainable food expansion, global market expansion, strengthening ESG management, and future readiness through food tech.

In particular, the company is expanding sales with its sustainable food specialist brand Pulmuone Earth Diet launched in 2022.

The company has set the target to raise sustainable food sales to 65 percent of its entire revenue by 2026.