Sun-in

About Sun-in

In 1987, as South Korea’s palate for western-style foods began to grow, founder Lee Hyo-gu saw a gap. The market for bakery and dessert ingredients was dominated by imports. He started Sun-in initially as a distribution company, bringing foreign food ingredients to the domestic market. The company's pivotal moment came with a strategic shift from simply distributing to manufacturing. In 1996, Sun-in established its own factory, aiming to localize western food ingredients for Korean tastes and businesses. This led to the creation of its breakout product, 'Everwhip,' a non-dairy whipping cream developed after years of in-house research. The product successfully competed with and displaced international brands, establishing Sun-in as a serious manufacturer and a key supplier to thousands of bakeries and cafes. By 2017, Sun-in was a dominant local player with a vertically integrated cold chain business. This operational strength attracted a major investor. In October, Goldman Sachs' private equity arm acquired a 20% stake for approximately $30 million, validating the company's long-term strategy. The deal provided capital to expand production facilities and upgrade technology, while founder Lee Hyo-gu remained the largest shareholder, ensuring continuity of his vision. This partnership fueled further growth, solidifying Sun-in's leadership position in South Korea's evolving food landscape. The company that began by importing foreign goods had become a domestic champion and a significant exporter in its own right, built on a foundation of manufacturing and supply chain control.