Seoul Food, Major Shareholders Purchase Shares and Achieve Over 10% Annual Sales Growth... Implementing 'Value-Up'

Seoul Food Industry Co., Ltd. (hereinafter referred to as Seoul Food), a company specializing in bakery and eco-friendly businesses, announced on the 25th that it will implement a 'value-up' policy through stock purchases by major shareholders and sales growth.

Seoul Food disclosed that on the previous day, Seo In-ho, Executive Director and eldest son of CEO Seo Seong-hoon, the major shareholder, purchased 700,845 shares of the company on the market. CEO Seo Seong-hoon and other major shareholders plan to continuously acquire stocks worth 1 to 2 billion KRW within the year to secure an additional 2-4% stake.

This strategy aims to create an atmosphere where the company's management can take more responsible management and, based on this, enhance the company's business competitiveness and corporate value.

Additionally, the company presented a growth strategy to surpass 70 billion KRW in sales through more than 10% annual growth. This year, Seoul Food plans to launch various and differentiated new products in the market by efficiently managing the company's assets and resources and meeting the rapidly changing consumer expectations.

They will diversify the sales structure and improve profitability through active sales activities while maintaining a stable market share of existing products such as frozen dough and snacks, as well as developing pizzas and finished products supplied to new large corporations and convenience stores.

CEO Seo Seong-hoon of Seoul Food stated, “Amid the deepening undervaluation of domestic listed companies, Seoul Food will transform into a shareholder-friendly company through strengthening internal management systems and active IR activities.”