[Featured Stock] Samyang Foods Rises on Outlook for Continued Double-Digit Growth

Samyang Foods' stock price is on the rise. The expectation that double-digit external growth will continue seems to be influencing the stock price.

As of 10:37 AM on the 22nd, Samyang Foods is trading at 288,500 KRW, up 6.46% from the previous day.

Han Yoo-jung, a researcher at Hanwha Investment & Securities, stated, "The US subsidiary, which began generating significant sales from February 2022, is establishing a stable distribution system," adding, "For Walmart and Costco, which completed store entries last year, additional store openings and expansion of ramen, snack, and sauce product lines are expected based on positive initial sales data."

Researcher Han continued, "The Chinese subsidiary completed channel restructuring last year," and forecasted, "With the expansion of snack channels and convenience store (CVS) entries, which are rapidly emerging in China, along with increased regional coverage, a rebound in Chinese sales is expected." She added, "Although the second half of the year has a higher base compared to the first half, double-digit external growth is still expected to continue, and after the completion of the Milyang second factory in June next year, another quantum jump is anticipated."