Ottogi's new name and logo. (Ottogi)
South Korean food giant Ottogi said Friday it will change its English name to Otoki to make the brand more recognizable to international consumers.
"We decided to pursue this rebranding to clarify the company's identity for global consumers while introducing a modernized symbol that feels more approachable. This will resolve confusion surrounding the pronunciation of our English name," said a company official.
As a part of the rebranding initiative, its mascot received a face-lift with a modern and sleek design.
The new English name was submitted Thursday to the trademark office in Korea and will be registered in key export markets overseas. Accordingly, the updated symbol will gradually be applied to packaging for export products.
Last year, the company posted 332.5 billion won in overseas sales, accounting for nearly 10 percent of the total sales of 3.5 trillion won. Overseas sales of ramyeon, in particular, reached 90 billion won out of 670 billion won.
Currently, the company exports its products to 65 countries and operates subsidiaries in the US, China, Vietnam and New Zealand. Earlier this year, the company announced its goal to expand its export destinations to at least 70 countries by the end of the year.
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