Woongjin to take on Coca-Cola, Pepsi with Korea-made cola

[THE INVESTOR] Woongjin Foods is relaunching its own 815 Cola again after two failed attempts over the past decades.

The company said on Aug. 5 it will reenter the nation’s 1 trillion won carbonate drink market with its refashioned 815 Cola and 815 Cider brands.

The first Korea-made cola, named after the nation’s Liberation Day on Aug. 15, made its ambitious debut back in 1998 with an aim to take on the top two -- Coca-Cola and Pepsi. Its market share once soared to 13.7 percent. 

But hit hard by the financial crisis in the late 1990s, the producer Kwonyoung Foods went bankrupt and the 815 Cola disappeared from the market. The company was then merged with Dongbu Group to be named as Dongbu Farm Kaya.

In 2014, a smaller retailer ProM purchased a license and sold some batches of the cola in provincial areas.

Dongbu Farm Kaya was acquired by Woongjin Foods last year, to become Kaya F&B.

With the new launch, the new 815 Cola has changed its taste and packaging. The company plans to ramp up marketing activities.

By Ahn Sung-mi (sahn@heraldcorp.com)