[Edaily Reporter Park Jung-Soo ] #The BORN Korea is surging for the third consecutive day. This is believed to be driven by buying interest following news that the company is ramping up its North American operations, including expanding the rollout of its restaurant brands in Canada and beginning local production of its signature sauces in the U.S.
According to MP Doctor on the 19th, as of 9:04 a.m., The BORN Korea is trading at 21,000 won, up 8.47% (1,640 won) from the previous trading day. The stock rose more than 21% the day before and jumped over 12% on the 14th.
The previous day, The BORN Korea announced that CEO Baek Jong-won, who is currently on a business trip to North America, signed a memorandum of understanding (MOU) with Sunray Group, a Canadian hotel and real estate company, to collaborate on the restaurant business, and discussed plans to expand sales of TBK sauce with local food distributors.
Sunray Group operates approximately 80 hotels in Canada under global brands such as Marriott, Hilton, and Hyatt. The two companies are pursuing a plan to convert stores currently operated by Sunray Group in the Markham area of the Greater Toronto Area into The BORN Korea’s restaurant brands. They are currently discussing the specific brands to be applied and the details of store operations.
The company has also begun securing a local distribution network for its food business. CEO Baek met with executives from two major Canadian food distribution companies to discuss ways to expand sales of The BORN Korea products, including TBK sauces.
With a Korean-owned food distributor, they discussed special promotional events featuring The BORN Korea products at local supermarkets, operating pop-up stores in food courts, and developing menus using TBK sauces at company-owned restaurants. They are also exploring ways to expand B2B sales of TBK sauces by leveraging the distributor’s restaurant distribution network.
With another major food distributor, the company discussed plans to sell TBK sauce to local consumers through the distributor’s retail network. The plan is to expand the range of products supplied in the future based on sales performance and consumer response.
They are also pursuing the joint development of home meal replacements (HMR) targeting North American consumers. The plan is to develop products tailored to local consumption habits and tastes and to target not only the foodservice market but also the general consumer market through the partner’s production and distribution networks.