[Special Stock] CJ Seafood and Sajo Seafood Rise on Popularity of 'K Gimbap'

CJ Seafood and Sajo Seafood are on the rise following news that Korean-style gimbap is gaining popularity in overseas markets.

As of 9:25 a.m. on the 24th, CJ Seafood is trading on the KOSPI market at 4,820 KRW, up 665 KRW (16.00%) from the previous close.

The stock price also rose intraday to 4,965 KRW, setting a new 52-week high. After rising for seven consecutive trading days since the 13th, it dipped for one day on the 23rd but returned to a sharp upward trend on this day. Trading volume surged to 10.09 million shares, more than nine times the previous day, with a trading value of 46.9 billion KRW.

At the same time, Sajo Seafood is also trading around 4,850 KRW, up 14.8%. Its trading volume is over three times that of the previous trading day at 1.48 million shares, with a trading value of 7 billion KRW.

CJ Seafood is a representative stock related to gim (seaweed). In December last year, it expanded its gim business by acquiring 100% of Samhae Corporation's shares from CJ CheilJedang. As a result of this acquisition, first-quarter gim export revenue increased by 225% year-on-year to 4.7 billion KRW.

Sajo Seafood also reported sales of 8.5 billion KRW from its gim-related business segment in the first quarter of this year, accounting for 20.2% of its total sales.

Researcher Lee Jae-mo of Growth Research noted, "As Korean-style frozen gimbap gains popularity overseas, demand for gim, the main ingredient of gimbap, is also increasing," adding, "Gim, Korea's representative seafood product, achieved export revenue of 770 million USD in 2023, marking the highest export performance ever recorded for a single seafood product."