Samjin Food Submits Securities Registration Statement... Begins KOSDAQ Listing Process

On November 3, Samjin Food announced that it had submitted a securities registration statement to the Financial Services Commission for a KOSDAQ listing, officially beginning the listing process.

Samjin Food will offer 2 million new shares to the public. The desired offering price range is between 6,700 and 7,600 won, with the total offering expected to reach approximately 13.4 billion to 15.2 billion won. The institutional investor demand forecast will be conducted from November 19 to 25. The subscription for general investors will take place over two days, from December 1 to December 2. Daishin Securities is serving as the lead underwriter.

Founded in 1953 at Bongnae Market in Yeongdo, Busan, Samjin Food has been a leading seafood processed food company in South Korea for over 70 years, pioneering the fish cake industry. The company has transformed fish cake from a simple traditional ingredient into a premium food and a K-Food brand, spearheading a paradigm shift toward the branding of the fish cake industry.

Samjin Food was the first in the industry to operate a "Fish Cake Bakery" store and a fish cake experience center, establishing itself as a company that provides customers with not only a culinary experience but also the value of "brand experience." Through the development of products that align with market trends-such as home meal replacement (HMR), high-protein seafood products, and shelf-stable fish cakes-the company continues to expand its market presence.

While maintaining the authenticity of traditional fish cakes, Samjin Food is also enhancing product value through the development of high-functionality foods based on seafood protein. The company participated in the global stage for advanced technology and innovation, the 2025 Consumer Electronics Show (CES), where it unveiled sustainable future seafood solutions such as "Blue Meat Powder." Its technological prowess and innovation have also been recognized in overseas markets.

In addition, Samjin Food independently developed a range of shelf-stable fish cake products that overcome the distribution limitations of refrigerated and frozen fish cakes. This has enabled the company to improve distribution efficiency and secure export competitiveness. In practice, Samjin Food is actively targeting overseas markets, leveraging consumer response through global distribution channels such as Costco Taiwan and H Mart in the United States.

Behind these innovations is Samjin Food's vertically integrated value chain. Samjin Food is the only domestic fish cake specialty brand that independently manages the entire process-from research and development, raw material selection, production, and distribution to brand marketing. This vertically integrated value chain has been the key driver enabling the company to consistently execute its strategies for premiumization, branding, and globalization.

When Samjin Food first opened its fish cake bakery in 2013, its sales stood at approximately 8.2 billion won. By 2023, sales had risen to 84.6 billion won, marking more than a tenfold increase in just ten years. Last year, the company continued its growth trend, recording sales of 96.4 billion won. Operating profit also increased from 1.8 billion won in 2022 to 4.8 billion won last year.

Park Yongjun, CEO of Samjin Food, stated, "Samjin Food is more than just a manufacturer; we are a company that designs the consumer experience of fish cake through our brand. Through this listing, we aim to become a healthy seafood protein brand that global consumers can enjoy every day."

Recently, Samjin Food provided its fish cake bars at a K-Food promotional event near the Gyeongju APEC International Media Center, where the Asia-Pacific Economic Cooperation (APEC) Summit was held. The event received an enthusiastic response from both domestic and international visitors, once again proving Samjin Food's position as a leading K-Food brand.