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Hy (company)

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hy Co., Ltd
Native name
주식회사 에치와이
Company typeSubsidiary company
IndustryFood processing
Founded27 July 1969
Headquarters577 Gangnam-daero, Seocho-gu, Seoul, South Korea
Key people
Yoon Deok-byeong (Co-founder), Yoon Ho-jung (CEO)
ProductsDairy product
Juice
Health Functional Food
OwnerPaldo Co. Ltd.(40.83%)[1]
Yakult Honsha (38.30%)[1]
Number of employees
1,030 as of 31 December 2020 [2]
ParentPaldo Co. Ltd.
SubsidiariesPaldo Co. Ltd.
Vilac Co. Ltd.
Websitewww.yakult.co.kr

hy Co., Ltd (Korean: 주식회사 에치와이),[3] formerly known as Korea Yakult (한국야쿠르트), is a South Korean food company based in Seocho-gu, Seoul. It is one of the largest food companies in South Korea and produces beverages (including sikhye and sujeonggwa) and dairy products (including yakult, a yogurt-like drink).

History

The Korean joint venture between Yoon Deok-byeong and Yakult Honsha was established in 27 November 1969 under the name 한국야쿠르트유업주식회사 (transl. Korea Yakult, Inc.)[4][5][6]

The company created and started selling domestic yakult in 1971 to negative reception in the early days, due to the lack of knowledge regarding lactic acid bacteria. At the time, there was speculation about the product, due to popular belief that Lactic Acid was harmful to the body.[7] Despite this, Yoon carried on with the sales, starting with an aggressive marketing campaign, including a "free tasting campaign" for the public, a door-to-door sales campaign by hiring housewives (who came to be known as Yakult Lady/auntie), who knew the local neighborhood and knew the locals. This marketing campaign resulted in a major success, with sales increasing to a million bottles sold per day by 1977.[citation needed]

In 1976, the company founded the Korea Yakult Research Institute, a research institute that is notable for researching and inventing the Bifidobacterium HY8001 probiotics/lactobacillus, resulting in South Korea depending much less on imports from the United States, Europe, Japan, and multiple countries for lactic acid products.[8] The research institute also has a library of over 4,000 types of bifidobacterium strains, with 139 patent registrations and 56 patented strains, and has developed 22 lactobacilli for product application since its founding. It is the birthplace of multiple products that are sold by Korea Yakult.[9][10][11][12]

In 1987 the company began distributing its products overseas, under the brand name Paldo. In 2012, Paldo Co. Ltd. was launched as an independent subsidiary of Korea Yakult.[13]

In 2019, Korea Yakult changed the name of the "Yakult Lady" (야쿠르트 아줌마), which is a symbol of the company, to "Fresh Manager" (프레시 매니저) to mark the 50th anniversary of its foundation.[14]

In 2021 March 29, Korea Yakult declared that they are renaming their business to hy, Ltd. due to their interest in expanding their portfolio in the distribution sector after a shareholder meeting the day before.[15]

See also

  • Yakult Honsha, original Japanese joint venture investor that helped found the original Korea Yakult company
  • Seoul Milk

References

  1. ^ a b "기업해부 한국야쿠르트 지분구도·후계구조". newsprime.co.kr. Retrieved 1 June 2016.
  2. ^ "한국야쿠르트 에치와이그룹 계열사 액상시유 및 기타 낙농제품 제조업". Retrieved 11 December 2021.
  3. ^ "KREPORT (주)에치와이". Retrieved 11 December 2021.
  4. ^ "Korea Yakult's crown prince Yoon has a lot to prove". koreaherald.com. 26 May 2014. Retrieved 1 June 2016.
  5. ^ "야쿠르트 - 윤덕병". 30 September 2018. Retrieved 10 December 2021.
  6. ^ "한국야쿠르트는 일본기업?..반복되는 논란, 궁금해지는 속내". 11 April 2018. Retrieved 10 December 2021.
  7. ^ "야쿠르트 - 윤덕병". 30 September 2018. Retrieved 10 December 2021.
  8. ^ "한국야쿠르트 중앙연구소 설립 40년 만에 수입대체효과 누적 2000억 넘어". 2 June 2016. Retrieved 11 December 2021.
  9. ^ "Korea Yakult Research Institute Celebrates 40th Anniversary". 2 June 2016. Retrieved 11 December 2021.
  10. ^ "한국야쿠르트 중앙연구소, 유산균 독립 이뤘다". 27 June 2016. Retrieved 11 December 2021.
  11. ^ "Korea Yakult launches three types of liquid probiotics certified by the Ministry of Food and Drug Safety". 31 January 2021. Archived from the original on 10 December 2021. Retrieved 11 December 2021.
  12. ^ "한국야쿠르트 유산균 2000억 수입 대체". 2 June 2016. Retrieved 11 December 2021.
  13. ^ 한국야쿠르트, '팔도' 별도 법인으로 분리시킨다(종합)
  14. ^ 김, 보라 (7 March 2019). "야쿠르트 아줌마, 48년만에 '프레시 매니저'로 이름 바꾼다". 시장경제 (in Korean). Retrieved 4 May 2021.
  15. ^ "hy, New Name of Korea Yakult". 26 April 2021. Retrieved 11 December 2021.
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