[Featured Stock] Wooyang Rises on Improved Earnings as Korean-Style Hot Dogs Sell Well

As of 9:30 a.m. on August 20, shares of Wooyang on the KOSDAQ market were trading at 5,500 won, up 16.77% from the previous day's closing price. This appears to be due to expectations that the company's performance will further improve, in addition to the strong second-quarter results announced on August 18.

Founded in 1992, Wooyang is a food company that manufactures frozen processed foods such as hot dogs, as well as processed agricultural products including fruits and vegetables. The company supplies its products to manufacturing and distribution companies like CJ CheilJedang and Pulmuone Foods, as well as food service franchise brands such as Starbucks, Ediya, and Hollys. Recently, with the growth of the cafe and home meal replacement (HMR) markets, Wooyang has been expanding its product lineup and sales channels for direct sales to general consumers through its own brands, "Newttre" and "Chef Story."

On August 18, Wooyang announced in its second-quarter business report that it recorded consolidated sales of 45.3 billion won and operating profit of 960 million won. Compared to the same period last year, sales increased by 3.9%, while operating profit surged by 151.7%.

A Wooyang representative stated, "Korean-style hot dogs are steadily gaining popularity in the UK and Europe, so we have high expectations for export performance in the second half of the year," adding, "We will continue our sustainable growth by pioneering overseas markets and strengthening our brand competitiveness."