Daebon Korea's stock is experiencing a surge following news of its expansion into international markets for its proprietary sauce brand.
As of 1:54 PM on August 14, the Korea Exchange reported that Daebon Korea's shares rose by 2,030 won (14.41%) to 16,120 won compared to the previous trading day.
Earlier, Daebon Korea announced that CEO Baek Jong-won visited a local restaurant in Los Angeles, where he introduced menu items utilizing 'TBK (The Born Korea) sauces' and discussed product supply and application methods.
During his visit, Baek showcased 11 types of TBK sauces and engaged with restaurant staff regarding supply and menu integration strategies.
Daebon Korea is also in discussions with local companies in the U.S. and Thailand regarding the supply and distribution of TBK sauces. The company is considering signing a memorandum of understanding (MOU) later this year if negotiations progress.
The expectation that Daebon Korea's sauce business could establish itself as a significant source of overseas revenue is reflected in the stock price, especially if the supply chain expands beyond food and distribution companies to include local dining establishments.
Previously, Daebon Korea focused on expanding its restaurant brands internationally, but it is now broadening its overseas business scope to include sauces and food products. The collaboration with U.S. dining establishments is expected to accelerate the expansion of its food brand's international distribution network.
* This article has been translated by AI.
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