YANGON – South Korea-based Lotte Chilsung will distribute and sell soft drink products in partnership with US-based PEPSICO, according to the Directorate of Investment and Companies Administration (DICA).
The company applied for permission to open a branch office for distributing and selling its products in Myanmar.
The Lotte Chilsung Beverages is one of Asia’s largest drinks company, holding a 35 percent stake of the domestic market in South Korea. It manufactures various products such as fizzy soft drinks, juices, coffee, tea, soybean drinks and mineral water which it exports to 30 countries such as Japan, the United States, China, Vietnam and Russia.
The Company was founded in 1950 and is headquartered in Seoul, capital of South Korea. New branch offices are currently being opened in China, the Philippines and Russia.
A Singaporean firm had also been granted manufacturing and selling permits for Heineken brand non-alcoholic beverages according to Foreign Investment Law.
Source: ELEVEN Myanmar