[Click eStock] "Meatbox to Sustain Growth Through Distribution Structure Simplification"

On July 11, Yuanta Securities projected that Meatbox would continue to grow steadily by simplifying the distribution structure.

Meatbox operates a direct transaction platform for livestock products to address the complex structure and information asymmetry issues present in the traditional livestock distribution market.

Kwon Myungjun, a researcher at Yuanta Securities, explained, "While the traditional process involved two to three stages of wholesale and retail, transactions on the Meatbox platform are conducted directly, excluding wholesalers and retailers." He added, "Even after paying platform fees, reducing distribution stages leads to cost savings of more than 15 to 30 percent." He also noted, "When using the platform, settlements are processed within nine business days after delivery is completed."

Kwon emphasized, "A cold chain system has been introduced," and added, "From product intake to delivery, the entire process is managed with customized refrigerated or frozen temperatures for each item."

He analyzed, "Meatbox's sales have increased at an average annual rate of 55.2 percent over the past five years," and noted, "The annual number of orders and the cumulative number of registered customers are also increasing."

Additionally, he introduced, "In February of this year, a subsidiary called Meatmatch Daebu was established to enter the livestock product distribution financial services business." He explained, "Meatmatch operates dedicated storage areas in cooperation with cold storage warehouse companies, where physical inspection processes are carried out." He continued, "Upon warehouse intake, a verification inspection process is conducted to check for consistency between labels and documents." He explained that "this is likely to be preferred over existing secondary financial institutions, as it can minimize potential losses."