The Hanoi Milk Joint Stock Company (Hanoimilk) inked a partnership deal with Maeil, one of three major milk producers of the Republic of Korea, on September 18.

Hanoimilk executives hope that the deal will provide the company, which holds the third-largest market share in Vietnam, with greater international exposure.
“Maeil products are already available in over 20 overseas markets, so I really expect the cooperation will help Hanoimilk expand its reach beyond our borders,” said Tran Dang Tuan, CEO of Hanoimilk.

The RoK partner will help Hanoimilk broaden its production lines, adopt new technology and improve their management capabilities. The company will also support Hanoimilk to build a milk processing plant in the southern region of the country.

The company has received a nod of approval from the State Securities Commission to increase its charter capital from VND75 billion  (US$4.69 million) to VND100 billion (US$6.25 million) by issuing shares on the Hanoi Securities Trading Centre in early October.