Lee Jung Acquires Hanwoo's Leading Brand 'Ttukshim Hanwoo'

Lee Jung Co., Ltd., a dining-out specialized company, has expanded its business by acquiring Ttukshim Hanwoo, a representative Korean beef brand in South Korea. With this acquisition, Lee Jung Co., Ltd. now owns a total of five meat dining-out brands, including Haebong Butcher, Sookseong Meat Hall, UN Garden, Ttukshim Hanwoo, and Noran Sangso Galbi.

Since opening Haebong Butcher Samsung Main Branch in 2020, Lee Jung Co., Ltd. has rapidly grown by sequentially launching Haebong Butcher Mugyo Branch, Sookseong Meat Hall Mapo Branch, UN Garden Pangyo Branch, and Haebong Butcher Yeouido Branch. According to Lee Jung Co., Ltd., despite the COVID-19 pandemic, the company recorded sales of 500 million KRW in 2020, 2 billion KRW in 2021, 5 billion KRW in 2022, 10 billion KRW in 2023, and 15 billion KRW in 2024, achieving over 200% sales growth. This growth was the driving force behind the acquisition of Ttukshim Hanwoo.

Notably, CEO Lee Dong-jin of Lee Jung Co., Ltd. is also the founder of Ttukshim Hanwoo. In January 2018, CEO Lee sold Ttukshim Hanwoo to a private equity fund, then established Lee Jung Co., Ltd. and resumed the Korean beef dining business through Haebong Butcher. The rapid growth of Lee Jung Co., Ltd. was made possible by CEO Lee’s expertise in purchasing Korean beef raw meat, systematic store management, and brand planning capabilities.

This reacquisition of Ttukshim Hanwoo is expected to be an important opportunity for CEO Lee Dong-jin to help overcome the challenges faced by Ttukshim Hanwoo. Lee Jung Co., Ltd. plans to transform the existing Ttukshim Hanwoo branches in Gangnam, City Hall, and Mokdong into Haebong Butcher outlets, while aiming for a performance turnaround of Ttukshim Hanwoo through new facility investments and menu revamps.

The acquisition also includes Seoje-won Co., Ltd., a subsidiary of Ttukshim Hanwoo. Seoje-won Co., Ltd. owns the well-known Noran Sangso Galbi brand, further strengthening Lee Jung Co., Ltd.’s portfolio of meat dining brands. According to insiders, Lee Jung Co., Ltd. expects to achieve consolidated sales of 50 billion KRW by 2025 through this acquisition of Ttukshim Hanwoo.

Through this acquisition, Lee Jung Co., Ltd. has secured strong competitiveness by owning five meat dining brands, including Ttukshim Hanwoo and Noran Sangso Galbi, laying the foundation for continuous growth in the future.