TiEnTer "Operating Profit Surpasses 10 Billion KRW... Expanding F&B Business Achievements"

On the 21st, T&Entertainment, a subsidiary of Chorokbaem Media, announced that it achieved sales of 150.27 billion KRW last year. Operating profit for the same period recorded 13.52 billion KRW. This marks the first time in history that the company surpassed annual sales of 150 billion KRW and operating profit of 10 billion KRW.

This performance announcement covers the results from January to December of last year. T&Entertainment, which previously had a fiscal year ending in June, changed its fiscal year-end to December last year.

T&Entertainment’s previous term (the 17th term, July to December 2022) sales and operating profit were 71.91 billion KRW and 3.25 billion KRW, respectively. The term before that (the 16th term, July 2021 to June 2022) recorded sales of 58.74 billion KRW and an operating loss of 1.94 billion KRW.

The strong performance of T&Entertainment this time is due to steady growth in its core management business segment as well as significant expansion in the food and beverage (F&B) business segment. Additionally, new businesses such as YouTube content production and YouTube channel advertising agency services also generated new sales.

A company representative explained, “The company’s F&B business is mainly conducted through chicken franchises such as ‘Fried Cham Jalhaneun Jip’, ‘Sesang-ui Modeun Achim’, and ‘Sadaebu-jip Gotgan’. Last year, the number of franchise stores for Fried Cham Jalhaneun Jip increased, and the number of customers significantly grew across all business locations.”

He added, “Through last year’s business restructuring, we discontinued the existing chemical business which had been continuously incurring losses. The expansion of sales in each business segment and the full-scale cost reduction efforts contributed to an increase in operating profit margin, enabling us to achieve triple-digit operating profit for the first time in history. We expect to continue a steady growth trend this year based on a stable management structure.”