Baek Jong-won Becomes 450 Billion Won Stock Billionaire with The Born Korea's Huge IPO Success

Market Capitalization of 743.5 Billion KRW on the First Day of Listing

Broadcaster and culinary researcher Baek Jong-won, CEO of The Born Korea, has become a wealthy individual holding listed stocks worth 450 billion KRW.

Baek Jong-won, CEO of The Born Korea. Yonhap News

The Born Korea, which was listed on the Korea Composite Stock Price Index (KOSPI) on the 6th, started trading at 46,350 KRW. Early in the session, a large number of investors flocked, pushing the price well above the public offering price of 34,000 KRW, reaching as high as 64,500 KRW at one point. The stock price fluctuated afterward and closed at 51,400 KRW, up 51.3% from the public offering price.

The market capitalization of The Born Korea reached 743.5 billion KRW. CEO Baek is the largest shareholder with 8,792,850 shares (60.78%), and the value of his holdings amounts to 451.95249 billion KRW. Baek had also attempted to go public in 2018 but postponed it due to the COVID-19 pandemic. This year, marking the 30th anniversary of the company's founding, he challenged the listing again and achieved great success.

Baek Jong-won, CEO of The Born Korea, attended the listing ceremony of The Born Korea on KOSPI held at the Korea Exchange PR Center in Yeouido, Yeongdeungpo-gu, Seoul, on the morning of the 6th, and struck the commemorative book. Photo by Yonhap News

CEO Baek opened the 'Wonjo Ssambapjip' in Nonhyeon-dong, Seoul, in 1993 and established The Born Korea in 1996, stepping into the food service industry. However, during the International Monetary Fund (IMF) foreign exchange crisis, he incurred debts amounting to 1.7 billion KRW and left for Hong Kong. After enjoying delicious food there, he regained his determination for business. Upon returning to Korea, he knelt before his creditors and promised, "If given a chance, I will definitely repay the debt." Subsequently, he made a comeback by launching 25 food service brands including Ssambapjip, Hanshin Pocha, Paik’s Coffee, Hong Kong Banjeom, and Saemaeul Sikdang.

He married actress So Yoo-jin in 2013 and has one son and two daughters. Recently, he has appeared as a judge on the popular Netflix original variety show "Black and White Chef: Culinary Class War."