FOODPANG, South Korea's Largest AI-Powered B2B Food Commerce Platform, Expands into Global K-Food Reverse Commerce Philippines Service Live, Series C Fundraising Underway

SEOUL, South Korea - 19 Aug, 2026 - FOODPANG (CEO Kyung-yul Kong), South Korea's leading AI-powered B2B food commerce platform, today announced its strategic expansion into a global K-Food reverse commerce platform, leveraging its dominant market position in Seoul and Busan. Building on its Q2 2026 return to profitability, the company has signed a Memorandum of Understanding (MOU) with SF Express KOREA to launch its K-Food reverse commerce business in earnest, with services already live and operating in the Philippines.

COMPANY OVERVIEW South Korea's Leading AI-Powered B2B Food Commerce Platform

Founded in 2016, FOODPANG operates South Korea's largest AI-driven B2B food commerce platform, connecting restaurants directly with wholesale markets. Restaurant owners place orders through the FOODPANG app by 10 PM and receive fresh ingredients delivered before 8 AM the following morning - a service model that has fundamentally reshaped how South Korea's foodservice industry sources its ingredients.

The company currently operates a catalog of over 30,000 food ingredient SKUs in South Korea, powered by proprietary AI systems for pricing, sourcing, quality control, and supply chain optimization. FOODPANG serves the Seoul Metropolitan Area, Daejeon, Busan, and Yangsan with dawn delivery, addressing South Korea's KRW 60 trillion+ annual B2B food distribution market.

MILESTONE Profitability & Market Leadership in South Korea's Core Cities

KEY METRICS A Rare Combination in Korean Food Tech

Q2 2026 Profitability Turnaround - Profit-oriented business model established through AI-driven operational innovation

~20% Market Share in Seoul & Busan - Leading position in South Korea's capital Seoul and 2nd metropolitan city Busan

30,000+ Food Ingredient SKUs - South Korea's largest AI-powered food ingredient catalog

KRW 60 Trillion+ TAM - South Korea's total B2B food distribution market opportunity

FOODPANG achieved its Q2 2026 return to profitability, demonstrating a rare case in South Korean food tech where sustainable, profit-driven growth has been proven. By deploying AI systematically across product management, order processing, and data operations, the company has established a lean organizational model capable of managing large-scale transactions with a small, elite team.

In particular, FOODPANG commands approximately 20% market share in restaurant food ingredient supply in Seoul, South Korea's capital, and Busan, the country's 2nd largest metropolitan city. This dominant position - built over nearly a decade of operations in these two flagship cities - forms a strong competitive moat through proprietary customer data assets, wholesale market partner networks, and AI-driven operational expertise that serve as the core asset for the company's global expansion.

GLOBAL EXPANSION Evolution into a K-Food Reverse Commerce Platform

LIVE Philippines Service Already Launched and In Full Operation

FOODPANG's global K-Food reverse commerce platform is already live and operating in the Philippines, the company's first international market. Through partnerships with local distributors and wholesale marts, FOODPANG is stably supplying Korean food ingredients and K-Food products to the Philippine market, serving as a proven pilot model for the company's broader Southeast Asian expansion.

FOODPANG is expanding its business into a K-Food reverse commerce platform that transplants its AI-based food ingredient distribution know-how - proven in South Korea - into global markets. This is not simple exports; it is the strategic transplantation of the product management, pricing, quality control, and supply chain optimization systems built in Seoul and Busan directly to local distributors and local wholesale marts in each target country, thereby proliferating K-Food and building an all-in-one integrated supply chain that delivers South Korean food products globally.

To support this global expansion, FOODPANG has signed a Memorandum of Understanding (MOU) with SF Express KOREA. Through this agreement, the company combines its AI-driven product and distribution management systems with SF Express KOREA's global logistics network to secure a logistics foundation for delivering South Korean food ingredients and K-Food to markets worldwide with speed and reliability.

FOODPANG's global K-Food reverse commerce platform follows a phased market entry roadmap:

Philippines - Already live and in full operation (Southeast Asia pilot model)

Southeast Asia Priority - Vietnam Malaysia Singapore - sequential expansion

Northeast Asia Core Markets - Japan China - the largest K-Food demand markets

North America - United States - Korean food ingredient distribution and K-Food proliferation

FOODPANG's global expansion is executed by partnering with local distributors and local wholesale marts in each target country and transplanting the AI-based food ingredient distribution know-how proven in South Korea into local infrastructure. Through this model, the company aims to rapidly proliferate K-Food within each country while simultaneously integrating products from South Korean food manufacturers, franchise headquarters, and food ingredient distributors into an all-in-one K-Food supply chain delivered globally.

INVESTMENT Series C Round In Progress

INVESTMENT OPPORTUNITY Series C Fundraising Underway

FOODPANG is currently raising a Series C investment round to accelerate its global K-Food reverse commerce platform expansion. The capital raised will be deployed across three strategic priorities:

Global K-Food Reverse Commerce Expansion - Scaling the Philippines success model to Southeast Asia, the US, Japan, and China

Local Distributor & Wholesale Mart Integration System - Building infrastructure to transplant AI-based know-how to local partners in each market

AI Open Commerce Platform Advancement - Strengthening the all-in-one supply chain system for South Korean food manufacturers and franchises

Institutional investors, strategic partners, and family offices with interest in Asian food tech, AI commerce, and the globalization of K-Food are invited to engage directly with the CEO's office.

CEO STATEMENT

Kyung-yul Kong, Founder & CEO of FOODPANG, stated:

"FOODPANG has reached an inflection point. We have secured 20% market share in Seoul, the capital of South Korea, and Busan, the 2nd largest metropolitan city, and our Q2 profitability turnaround has validated our economics. We are now entering the phase of extending this proven AI distribution know-how into a global K-Food reverse commerce platform."

Kong continued, "Our Philippines service is already live and in full operation. We plan to replicate this model across major markets including the United States, Japan, China, Vietnam, Malaysia, and Singapore. In each country, we will transplant the know-how proven in South Korea to local distributors and wholesale marts, ultimately completing an all-in-one K-Food supply chain that delivers South Korean food products to the world."

On the current Series C round, Kong added: "This round is open to partners who share our long-term vision for the globalization of K-Food. FOODPANG offers something rare in this market - a profitable operating base, 20% market share in Seoul and Busan, a global service already validated in the Philippines, and a logistics partnership with SF Express KOREA."

FOODPANG's convergent strategy - combining profitability in South Korea, 20% market dominance in Seoul and Busan, a K-Food reverse commerce service already validated in the Philippines, and a logistics partnership with SF Express KOREA - establishes a distinctive position within Asia's food tech landscape. The company is set to grow into a global K-Food reverse commerce platform that delivers South Korean food products all-in-one to the world.

About FOODPANG

Founded in 2016, FOODPANG is South Korea's leading Data & AI-based B2B food commerce platform, operating a catalog of over 30,000 food ingredient SKUs and commanding an approximately 20% market share in restaurant food ingredient supply in Seoul, South Korea's capital, and Busan, the country's second-largest metropolitan city.

The company achieved profitability in Q2 2026 through AI-driven operational innovation and is now aggressively expanding its global K-Food reverse commerce platform business through its partnership with SF Express KOREA. Its Philippines service is already live and in operation, with expansion planned into the United States, Japan, China, Vietnam, Malaysia, Singapore, and other key markets.

To date, FOODPANG has raised a total of KRW 21.3 billion (approximately USD 15 million) in funding, backed by leading Korean financial institutions and investors, including KDB Korea Development Bank, Industrial Bank of Korea (IBK), and NongHyup (NH). The company is currently raising a Series C round to accelerate its global expansion and scale its Data & AI-powered K-Food commerce platform across international markets.

FOODPANG operates its headquarters in Seoul (Songpa-gu) and a branch office in Busan (Geumjeong-gu), delivering dawn delivery services across the Seoul Metropolitan Area, Daejeon, Busan, and Yangsan.

About SF Express KOREA

SF Express KOREA is the South Korean arm of SF Express, one of Asia's largest integrated logistics service providers. It offers time-definite express delivery, freight, cold chain, international logistics, and supply chain solutions. Leveraging a wide global network spanning multiple continents, SF Express KOREA supports customers across e-commerce, manufacturing, retail, and food industries with reliable, technology-driven logistics services.

Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice.

Media Contact
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