Samjin Foods selects 'KB Securities' as the lead manager

Samjin Food, a company specializing in egg processing, announced on the 26th that it has selected KB Securities as its lead manager and will begin the process of listing on the KOSDAQ market in earnest.

Samjin Food is the first egg processing company to challenge for listing on KOSDAQ. The company plans to reorganize its internal organization and prepare for public offering with the goal of listing in the second half of this year. The funds secured through listing will be used for research and development for new product production and operating funds for global business expansion.

Samjin Food, established in 2004, produces and supplies various products based on excellent egg processing technology. Its main products include liquid eggs used in school cafeterias and bakeries, as well as egg heat-formed products such as fried eggs, omelets, and spread eggs. With the recent growth of the group meal market and the opening of the military meal market to the private sector, Samjin Food expects that the demand for processed egg products will continue to increase.

In addition, exports of processed eggs are expected to expand due to the global K-food craze. In particular, exports of processed eggs are increasing in the US and Southeast Asia as Korean food such as kimbap becomes more popular. The avian influenza outbreak in the US and the resulting 'eggflation' phenomenon are expected to further accelerate the growth of Samjin Food's global supply performance.

Samjin Food is building a partnership with Youngshin Co., Ltd., the largest single-layer hen farm in Korea, as its largest shareholder. This partnership plays an important role in stably supplying raw materials needed for egg processing, and is forming a strong supply chain that is resistant to raw material price fluctuations.

Cheon Jong-tae, CEO of Samjin Foods, said, “Through the KOSDAQ listing, we will accelerate R&D, expand production facilities, and expand into overseas markets, thereby creating new growth engines for the company,” and “Based on high-quality products and high productivity, we will transform into the best egg processing company in Korea.”