Zagreb, 13 November 2014 – Today at the headquarters of Agrokor Group in Zagreb, Agrokor hosted the signing of the Memorandum of Understanding between Agrokor d.d.  and the Croatian-Korean Business Club. With this signing Agrokor became an official member of the Croatian-Korean Business Club. The Memorandum was signed by M.Sc. Damir Kuštrak, Executive Vice President for Export Markets, Ivan Crnjac MBA, Executive Vice President for Strategy and Capital Markets and Zoran Horvat, President of the Croatian-Korean Business Club and long-time director of Samsung Corporation, headquartered Zagreb (1991-2005).

During the signing of the Memorandum M.Sc. Damir Kuštrak expressed his satisfaction with Agrokor becoming a member of the Croatian-Korean Business Club. He thanked all the members for the effort they put in the intermediation process of exporting food and beverages on the territory of Korea.

The Agrokor Group is the largest privately owned company in Croatia and one of the leading regional companies with almost 60,000 employees and reported consolidated revenues reaching EUR 7 billion. According to the Deloitte survey in 2013. Agrokor Group was ranked as the 30thtop company in the TOP 500 companies in CE.

The Agrokor Group’s core businesses are the production and distribution of food and beverages and retail. Corporate members include Jamnica d.d., Croatia’s largest producer of mineral water, Ledo d.d., Croatia’s leading ice cream company, Zvijezda d.d., the biggest domestic producer of oil, margarine and mayonnaise, the largest Croatian meat industry PIK Vrbovec d.d., Croatia’s leading agricultural and industrial company, and leading largest retail chains Konzum d.d. and Poslovni sistemi Mercator d.d.

In addition to its Croatia-based companies, in recent years Agrokor has acquired companies based in several neighbouring countries, including Ledo Čitluk, Sarajevski kiseljak, Velpro Sarajevo, Frikom, Dijamant, Idea, Ledo Hungary and Fonyodi.

President of the Croatian-Korean Business Club Zoran Horvat also expressed his satisfaction with the new Club member, and mentioned that he believes the Agrokor Group will have great success with their products on the Korean market. In addition, he promised the Clubs full support in further intermediation processes between Agrokor and the Korean business world.

Secretary General of the Croatian-Korean Business Club Igor Zgrabljić pointed out the great potential of the Korean market for Croatian exporters as well as very good relations between the two countries, which are especially reflected with the increase of the number of Korean tourists in the Republic of Croatia and the growing interest of the Korean business community for investment in Croatia and the region.

Croatian-Korean Business Club was established with the aim of promoting and enhancing the economic cooperation between Croatia and the Republic of Korea with a focus on promoting the development of entrepreneurship and entrepreneurial initiatives, and trade between the two countries.