Theborn Korea announced on the 15th that it has discontinued the operation of its traditional liquor brand "Baeksuldoga."
Instead, Theborn Korea transferred its traditional liquor business to a separate legal entity, which is now independent from the company.
The company stated that concerns from overseas investors regarding its liquor business were the background for this business transfer.
Theborn Korea explained that, prior to its listing, overseas investors had expressed concerns about Theborn Korea, a company specializing in dining and distribution, concurrently operating a liquor business. As a result, the company decided to wind down the Baeksuldoga business, which had limited profitability, and focus on its core operations.
Baek Jongwon at a Crossroads Between Black and White(Seoul=Yonhap News) Reporter Lim Hwayoung = On the 28th, Baek Jongwon, CEO of Theborn Korea, held a press conference and Q&A session after the company's first regular shareholders' meeting at Space Share Gangnam Station Center in Seocho-gu, Seoul.
Theborn Korea, which was listed on the KOSPI market on November 6 last year, has been embroiled in controversy for about two months. Issues include the quality controversy over "Baekham" raised at the end of January, recent allegations of violating the Farmland Act, errors in origin labeling on its products such as soybean paste, the "employee blacklist" board operated on the Saemaeul Sikdang online cafe, and the use of pesticide sprayers.
March 28, 2025
hwayoung7@yna.co.kr (End)
Photo by Lim Hwayoung
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