South Korean food giant Otoki announced an investment of 565 billion Korean won in its US subsidiary.

South Korean food company Otoki announced on Wednesday that it will invest 56.5 billion Korean won in its American subsidiary to strengthen its presence in the US market. Otoki stated in a regulatory filing that it plans to purchase 400,000 shares of Otoki America Holding Company on June 27. A spokesperson for the company said, "The American subsidiary is fully owned by Otoki and will issue 400,000 shares next month."