While the KOSPI Jumped 129% in a Year, The Born Korea Moved in Reverse... Another Record Low on the 3rd

[The Financial News] Whether the stock market was rising or falling, The Born Korea’s share price only headed downward. On the 3rd, it hit another all-time low, extending its contrarian slide.
On this day, The Born Korea closed at 23,000 won, down 2.75% from the previous session. The Korea Composite Stock Price Index (KOSPI) plunged more than 7% after airstrikes by the United States and Israel on the Islamic Republic of Iran, and the stock also suffered an additional company-specific decline.
The problem is that The Born Korea’s share-price slump was even more pronounced while the index was in a rising phase.
Over the past year, while the KOSPI climbed 129%, The Born Korea’s stock fell 22.3%. Compared with its initial public offering price of 34,000 won in October 2024, the share price is now 32.4% lower.
Its business performance has also been weak. Operating profit of 36.0 billion won in 2024 swung to a loss of 23.7 billion won last year, while revenue dropped 22.2%, from 464.2 billion won to 361.2 billion won.
Market observers say the company’s business model, heavily reliant on Paik Jong-won’s personal image, has reached its limits.
Ahead of its 2024 listing, The Born Korea was hit by controversy over poor earnings at franchisees of its Yeondon Volkatsu brand. Last year, a series of issues followed, including debates over the value-for-money of its Baek Ham products, allegations of false country-of-origin labeling, and questions about ingredient content, all of which undermined brand trust.
In response, Paik issued an apology in May last year and halted his television appearances, before returning in November with the new Munhwa Broadcasting Corporation (MBC) variety show "Chef of Antarctica."
After that, the Netflix program "Culinary Class Wars Season 2," featuring Paik as a judge, gained popularity and drew attention. However, public sentiment toward Paik is still reported to have not fully recovered.
sms@fnnews.com Seong Min-seo Reporter