[Special Stock] Zinus Surges Over 5% on Indonesia Tariff Agreement

On July 16, Zinus showed strong performance in early trading. This came after news broke that Indonesia, its main production base, had reached a trade agreement with the United States.

As of 9:19 a.m. on this day, Zinus was trading at 19,680 won, up 1,010 won (5.41%) from the previous trading day.

On July 15 (local time), U.S. President Donald Trump announced that a trade agreement had been reached with Indonesia.

President Trump stated on social media that "Indonesia will pay a 19% tariff on all goods exported to the United States, while goods exported from the United States to Indonesia will be exempt from both tariff and non-tariff barriers."

This tariff rate for Indonesia is significantly lower than the 32% rate specified by President Trump when he announced country-specific reciprocal tariffs in April and in the tariff letter made public on July 7.

It is assessed that Zinus is now in a favorable position compared to its competitors, as Indonesia faces a relatively lower tariff rate than Mexico, Vietnam, or China, which are the main mattress production countries for its competitors.

The United States accounts for 80% of Zinus's total sales, earning it the nickname "Amazon Mattress." Of its mattresses, 69% are produced in Indonesia, where the new tariff rate applies.

Zinus is an affiliate acquired by Hyundai Department Store Group Chairman Chung Ji-sun in March 2022 for 879 billion won. By introducing the "mattress-in-a-box" technology, which compresses a mattress, frame, and topper into a single box for delivery, Zinus has secured about a 30% share of the U.S. online mattress market.