[Edaily Kwon Oh Seok Shin Ha-yeon Reporter] Industry attention is focused on the possibility of a management control dispute involving the KOSDAQ-listed company #MeatBox Global Inc. and its competitor, the livestock product distributor “The Tastier Day.” While The Tastier Day has distanced itself by claiming the investment is merely a financial one, it has been steadily increasing its stake in the company. With even minority shareholders now calling for a say in management, all eyes are on whether this will escalate into a three-way power struggle.

According to MP Doctor on the 1st, MeatBox Global Inc.’s stock price closed at 2,730 won during regular trading that day, having fallen by approximately 90% from its initial public offering price (19,000 won) when the company went public in January of last year. With shareholder dissatisfaction reaching a peak, observers point out that the largest shareholder’s control over management could be jeopardized as a key shareholder rapidly increases their stake amid the falling stock price.
Park Jin-ho, CEO of The Tasty Day, and his related parties have been continuously purchasing shares in MeatBox Global Inc. since early this year, raising their stake to 11.03% and effectively becoming the second-largest shareholder. They have moved beyond a simple investment to join the ranks of major shareholders. The Tasty Day is a company specializing in the import and distribution of poultry and pork, and it is also a partner listed on the MeatBox platform.
In a phone call with this publication, a representative from “A More Delicious Day” drew a clear line, stating, “This investment was made based on MeatBox Global Inc.’s growth potential and corporate value.” In fact, the disclosure documents also list it as a “simple investment.” Nevertheless, the market interprets this acquisition of a competitor’s shares as a prelude to a management control dispute. Under current law, if the reporting party submits a disclosure regarding a change in the purpose of holding shares, they can switch to the purpose of participating in management control at any time.
It is fair to say that the decline in the stock price lies behind the instability in management control. MeatBox Global Inc.’s stock price, which was 19,000 won at the time of its initial public offering in January 2025, has plummeted to the 2,000-won range. Outraged by the plummeting stock price, retail investors—primarily in online stock discussion forums—are demanding that the second-largest shareholder, “A More Delicious Day,” participate in management, arguing that the company must secure control.
Perhaps sensing a crisis, MeatBox Global Inc.’s management is devoting all its efforts to consolidating control and defending the stock price. A MeatBox Global Inc. official dismissed the possibility of a dispute, stating, “Through a meeting with CEO Park Jin-ho’s side, we confirmed that their intention is purely for investment,” and added, “We look forward to strengthening our long-term cooperative relationship.”
However, a closer look at current developments reveals that the largest shareholder is actively taking defensive measures. Kim Ki-bong, CEO of MeatBox Global Inc., who holds a 20.67% stake, has invested 1 billion won of his personal funds to begin buying back company shares this month under the pretext of strengthening responsible management, and plans to continue purchasing shares annually. This move is interpreted as a strategy to secure additional shares and defend management control.
At the same time, the company plans to carry out a stock split this month to help the stock price recover. MeatBox Global Inc. official explained, “To ensure sustained growth, we are expanding our product categories to include Yukmart (a product line targeting small restaurants) and seafood, while continuously working to improve the customer experience by extending order cut-off times and enhancing delivery services.” The official added, “We plan to continue reviewing and implementing various initiatives to enhance shareholder value, such as dividends and share buybacks.”