Corporate Logo(source: theborn.co.kr)
On the 28th, The Born Korea held a press conference at the Conrad Hotel in Yeouido, Seoul, to outline its strategic vision and future business plans post-listing.
Paik Jong-won, CEO of The Born Korea, stated, “The Born Korea has grown into an integrated food company spanning dining, hospitality, and distribution, thanks to strong partnerships with our franchisees from the very beginning.” He emphasized that after going public, the company aims to continue collaborating with franchisees, expand regional development, and focus on international markets to become a truly global food service company.
Founded in 1994, The Born Korea operates 25 restaurant brands, including Paik’s Coffee, Hong Kong Banjum, Saemaul Sikdang, Hanshin Pocha, and Yeokjeon Udon. It also has distribution operations, offering meal kits(HMR), processed foods, and sauces, along with a hotel business, including The Born Hotel in Jeju.
The Born Korea currently operates approximately 2,900 locations domestically through its 25 brands and oversees 149 franchise locations in 14 countries, including the U.S., China, and Japan.
“Our competitive strengths include brand marketing, R&D capabilities, production infrastructure, and multi-branding,” Paik explained, “allowing us to diversify across various sectors within the food industry. After the IPO, we plan to gradually expand our footprint, boost revenues, and maintain a virtuous cycle between headquarters and franchisees for sustainable growth.”
The distribution business, which includes HMR, processed foods, and sauces, continues to grow through sales via home shopping, convenience stores, and offline channels. Recently, the company has increased direct-to-consumer channels through its own online store and other major e-commerce platforms to expand consumer reach. The company also aims to broaden B2B sales channels, including military and corporate catering and ingredient supply, to support long-term growth momentum.
Last year, The Born Korea achieved a record annual revenue of 410.7 billion won(consolidated basis). Its compound annual growth rate(CAGR) from 2020 to 2023 was 39.7%, with dining, distribution, and hotel segments growing at 37.2%, 78.9%, and 15.1%, respectively.
Co-CEO Kang Seok-won, who also attended the press conference, stated, “With the stable growth of our dining segment and expanded distribution business, we aim to transform into a comprehensive food service company.”
The Born Korea intends to prioritize strong partnerships with franchisees post-IPO, adapting swiftly to regulatory changes, such as potential revisions to franchise laws, and fostering continuous dialogue to seek collaborative solutions. Plans are underway to enhance franchise operations through automation and food-tech collaboration.
After going public, The Born Korea plans to advance its dining business, expand B2B distribution channels, including to corporate and military dining services, to build a steady cash flow. The company also plans to engage in regional development projects, including festivals, to further expand its operations. Through The Born Korea Food Service Development Institute, a public-private partnership, the company will work with local communities to develop menus using regional specialties, provide branding consultancy, and help revitalize regional festivals.
Internationally, The Born Korea aims to accelerate its growth by operating its 149 overseas franchises effectively while exploring new opportunities for franchise expansion, including master franchising models. CEO Paik expressed his ambition to actively export popular K-food products such as Paik Ramen, Paik’s Coffee, and HMR offerings, saying, “We plan to distribute sauces tailored to local tastes through our franchises overseas, establishing The Born Korea as a true leader in global K-food.”
For its IPO, The Born Korea plans to issue 3 million new shares, recently finalizing its offering price at 34,000 won per share, targeting a total raise of 102 billion won. The company will have a total of 14.46 million shares outstanding post-listing, with an anticipated market cap of approximately 491.8 billion won.
General subscription for the IPO will take place over two days, October 28-29, with a targeted listing date in November. The IPO is being led by Korea Investment & Securities and NH Investment & Securities.
Corporate Logo(source: theborn.co.kr)
On the 28th, The Born Korea held a press conference at the Conrad Hotel in Yeouido, Seoul, to outline its strategic vision and future business plans post-listing.
Paik Jong-won, CEO of The Born Korea, stated, “The Born Korea has grown into an integrated food company spanning dining, hospitality, and distribution, thanks to strong partnerships with our franchisees from the very beginning.” He emphasized that after going public, the company aims to continue collaborating with franchisees, expand regional development, and focus on international markets to become a truly global food service company.
Founded in 1994, The Born Korea operates 25 restaurant brands, including Paik’s Coffee, Hong Kong Banjum, Saemaul Sikdang, Hanshin Pocha, and Yeokjeon Udon. It also has distribution operations, offering meal kits(HMR), processed foods, and sauces, along with a hotel business, including The Born Hotel in Jeju.
The Born Korea currently operates approximately 2,900 locations domestically through its 25 brands and oversees 149 franchise locations in 14 countries, including the U.S., China, and Japan.
“Our competitive strengths include brand marketing, R&D capabilities, production infrastructure, and multi-branding,” Paik explained, “allowing us to diversify across various sectors within the food industry. After the IPO, we plan to gradually expand our footprint, boost revenues, and maintain a virtuous cycle between headquarters and franchisees for sustainable growth.”
The distribution business, which includes HMR, processed foods, and sauces, continues to grow through sales via home shopping, convenience stores, and offline channels. Recently, the company has increased direct-to-consumer channels through its own online store and other major e-commerce platforms to expand consumer reach. The company also aims to broaden B2B sales channels, including military and corporate catering and ingredient supply, to support long-term growth momentum.
Last year, The Born Korea achieved a record annual revenue of 410.7 billion won(consolidated basis). Its compound annual growth rate(CAGR) from 2020 to 2023 was 39.7%, with dining, distribution, and hotel segments growing at 37.2%, 78.9%, and 15.1%, respectively.
Co-CEO Kang Seok-won, who also attended the press conference, stated, “With the stable growth of our dining segment and expanded distribution business, we aim to transform into a comprehensive food service company.”
The Born Korea intends to prioritize strong partnerships with franchisees post-IPO, adapting swiftly to regulatory changes, such as potential revisions to franchise laws, and fostering continuous dialogue to seek collaborative solutions. Plans are underway to enhance franchise operations through automation and food-tech collaboration.
After going public, The Born Korea plans to advance its dining business, expand B2B distribution channels, including to corporate and military dining services, to build a steady cash flow. The company also plans to engage in regional development projects, including festivals, to further expand its operations. Through The Born Korea Food Service Development Institute, a public-private partnership, the company will work with local communities to develop menus using regional specialties, provide branding consultancy, and help revitalize regional festivals.
Internationally, The Born Korea aims to accelerate its growth by operating its 149 overseas franchises effectively while exploring new opportunities for franchise expansion, including master franchising models. CEO Paik expressed his ambition to actively export popular K-food products such as Paik Ramen, Paik’s Coffee, and HMR offerings, saying, “We plan to distribute sauces tailored to local tastes through our franchises overseas, establishing The Born Korea as a true leader in global K-food.”
For its IPO, The Born Korea plans to issue 3 million new shares, recently finalizing its offering price at 34,000 won per share, targeting a total raise of 102 billion won. The company will have a total of 14.46 million shares outstanding post-listing, with an anticipated market cap of approximately 491.8 billion won.
General subscription for the IPO will take place over two days, October 28-29, with a targeted listing date in November. The IPO is being led by Korea Investment & Securities and NH Investment & Securities.