최초입력 2025.07.01 15:07:53
Riding the global popularity of South Korean cuisine, mid-sized food companies are stepping up efforts to go public, aiming to use initial public offering (IPO) proceeds to expand international operations and strengthen their credibility with overseas buyers and partners.
Samjin Food Co., a longstanding fishcake manufacturer headquartered in Busan, has filed a preliminary application with the Korea Exchange for a Kosdaq listing, according to investment banking sources on Monday.
Daishin Securities Co. is acting as the underwriter.
Founded in 1953, Samjin Food is recognized as Korea’s oldest fishcake producer. Under the leadership of third-generation CEO Park Yong-jun, the company has adopted a premium strategy centered on bakery-style artisanal fishcake cafes.
This shift has fueled strong growth, with revenue soaring from 2.5 billion won in 2011 to 97.2 billion won ($71.1 million) in 2024.
Its operating profit reached 3.7 billion won last year.
Meanwhile, Samjin Food Co., a namesake processed egg producer, submitted its own preliminary IPO filing in April via a merger with KB No. 31 SPAC.
Established in 2004, the company manufactures a range of egg-based products including liquid eggs, omelets, and spreads.
As demand for ready-to-eat meals grows, Samjin Food saw its revenue rise by 22.5 percent to 40.8 billion won in 2024. Its operating profit also soared 42.8 percent to 4 billion won.
In May, snack and beverage company Bio Port Korea Inc. successfully went public on Kosdaq through a merger with DB Financial SPAC No. 11.
Founded in 2004, Bio Port exports squid chips, citron-ginger tea, and other Korean-style snacks to over 30 countries, including the United States, primarily through Costco.
The company recorded 73.3 billion won in revenue and 5.2 billion won in operating profit last year.
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