[Market Focus] Pulmuone Soars 17% as Frozen Gimbap Sales Surge in China

On July 23, Pulmuone's stock price is surging. This is interpreted as reflecting expectations for expansion in the Chinese market, following an increase in sales of Pulmuone's frozen gimbap in China.

As of 10:07 a.m. on this day, Pulmuone is trading at 14,620 won, up 2,130 won (17.05%) from the previous trading day.

This surge is attributed to reports that Pulmuone's frozen gimbap, produced by its Chinese subsidiary, is gaining popularity locally.

Since its launch in August last year, Pulmuone's frozen gimbap has sold a total of 2.5 million rolls through July this year, with cumulative sales over the past year reaching 53 million yuan (approximately 10.2 billion won). Pulmuone is the first Korean food company to sell frozen gimbap in China.

Pulmuone established its Chinese subsidiary, Pumeiduo Foods, in Beijing and Shanghai in 2010. The company is targeting the Chinese market by producing refrigerated processed foods based on a cold chain system and directly marketing them through new channels such as membership stores.