South Korean HANHWA Group acquires food company Aibei Hong for 869.5 billion Korean won

On the 15th, Hanwha Hotel & Resort, a subsidiary of South Korea's Hanwha Group, announced that it had acquired 58.62% of the shares of comprehensive food company Ae-won for 869.5 billion Korean won. Some believe that considering Ae-won's sales last year were more than double that of Hanwha Hotel & Resort, this acquisition can be considered a case of "small fish swallowing a big fish." Officials at Hanwha Hotel & Resort stated that the company will work together with Ae-won to explore the global food market.