SEOUL, March 9 (Korea Bizwire) — At its corporate social responsibility conference held on Thursday, Ferrero Group said it would expand its social contribution efforts going forward.
North Asia Operations Chief Craig Barker said at the conference held in Seoul, “South Korea is a very important market for Ferrero Group and presents opportunities for expansion into diverse arenas. [South Korea] is a priority within the group and its importance will grow.”
The world’s third largest confectionary maker, Ferrero’s products constituted 19 percent of South Korea’s chocolate sales last year, ranking the company second in domestic chocolate market share.
Ferrero Group presented a social responsibility report detailing its planned social benefit enterprises.
Among the programs discussed were the Michele Ferrero Entrepreneurial Project, the Kinder+Sport enterprise, the implementation of sustainable agriculture practices, and minimizing environmental impact.
In operation for over a decade, 4.4 million children hailing from 28 countries participated in Kinder+Sport in 2016. Over 2,000 children in South Korea have taken part in Kinder+Sport since 2013.
In attendance at the conference were Italian ambassador Marco della Seta and former UN Secretary General Ban Ki-moon, among others.Founded in 1946, Ferrero Group in 2016 recorded worldwide revenues of 10.3 billion euros.
The South Korean branch was established in 2012. Through a distribution deal with Maeil Dairies, the company sells key products such as Ferrero Rocher, Kinder Chocolate and Nutella.
Kevin Lee (email@example.com)