Hyundai Corporation expands its production base in the UK to meet the growing demand from “British People Captivated by Korean Mushrooms”
Orders from local distributors are flooding in as preferences for healthy and vegetarian food are growing.
Hyundai Corporation Holdings employees are working at the mushroom farm.
Hyundai Corporation has established the largest Asian mushroom farm in the UK. As demand has been increasing due to local consumers’ preferences for healthy and vegetarian food, the company has constructed another production complex within five years of entering the UK market.
On November 5, 2023, Hyundai Corporation Holdings announced that it held a dedication ceremony for its second mushroom plant in Ormskirk, Lancashire, England on November 2 (local time). The event was attended by Hyundai Corporation Group Chairman Chung Monghyuck and many other guests.
Hyundai Corporation founded a mushroom production plant in the UK in 2018 in collaboration with Korea Green Mushroom Park, a Korean agricultural company, and has been producing 400 tons of shiitake and oyster mushrooms a year. With this recent expansion, the company expects to double its production capacity to 800 tons by 2026. It also plans to diversify its production varieties to include the lion’s mane and many others.
A Hyundai Corporation official said, “Asian mushrooms, such as the shiitake, used to be unfamiliar to the British as food ingredients, but consumption by local residents is increasing thanks to their interest in healthy food and vegetarian food.”
Hyundai Corporation has mushroom supply agreements with local distributors such as Tesco and Marks & Spencer. Last year, it achieved a revenue of KRW16 billion with this business. When its production capacity is doubled in 2026, revenues will also increase.
Hyundai Corporation Group Chairman Chung Monghyuk said at the dedication ceremony, “Our mushroom business is about to enter the North American market on the strength of our successful experiences in the UK. We should not settle for the existing business but constantly strive to discover and develop new business opportunities in order to move forward and become a 100-year company.”
A full view of Hyundai Corporation Holdings’ Mushroom Production Plant 2 in Ormskirk, Lancashire, UK
Maeil Business Newspaper November 5, 2023