Nutritional Growth Solutions (ASX:NGS) enters South Korean market

• Nutritional Growth Solutions (NGS) will launch its Health Heights product line in South Korea following a supply agreement with Coupang
• Founded in 2010, Coupang is South Korea’s largest online retailer with 18 million active customers and annual revenue exceeding US$18 billion (A$25.95 billion) in 2021
• This agreement will see Healthy Heights children’s protein formulas – which includes Grow Daily 3+ and 10+, KidzProtein and KidzProtein Vegan – stocked via the retailer
• Revenue is unable to be calculated at this point but NGS believes it will be significant since it marks its first entrance into the South Korean market
• NGS ends the day in the grey with shares trading at 13 cents

Nutritional Growth Solutions (NGS) will launch its Health Heights product line in South Korea following a supply agreement with Coupang.

Founded in 2010, Coupang is South Korea’s largest online retailer with 18 million active customers and annual revenue exceeding US$18 billion (A$25.95 billion) in 2021.

This agreement will see Healthy Heights children’s protein formulas stocked through the online retailer.

Products include Grow Daily 3+, Grow Daily 10+, KidzProtein and KidzProtein Vegan lines.

The agreement will begin immediately, run for 12 months and can be terminated by either company providing one month’s notice.

Revenue is unable to be calculated at this point but NGS believes it will be significant since it marks its first entrance into the South Korean market.

“South Korea has long been identified as a target market for Healthy Heights due to the country’s increasing demand for nutritional products for children, its large population, and growing trend towards online food sales,” CEO and Managing Director Liron Fendell said.

“Our Healthy Heights range is scientifically formulated by paediatric doctors at the renowned Schneider Children’s medical center to fill the nutritional gaps in children’s diets to ensure they have the best possible chance to grow to their maximal height, a value proposition I believe will resonate with parents in South Korea given the growing need for nutritional children’s products.”

NGS has ended the day in the grey with shares trading at 13 cents.