South Korean frozen seaweed company grows through U.S. exports, parent company to list on Kosdaq next year

It has become clear that food manufacturer AGF is selecting a managing company for its IPO on the Kosdaq market. AGF is a company that produces frozen seaweed rolls called "Baba Kimbap," which are attracting attention for their exports to the United States.
The company holds 100% of the shares of Allgot, a distributor of frozen norimaki. Allgot's annual production capacity of frozen norimaki reaches 7,900 tons.
Prior to this, on July 15, Jeju Beer acquired 21,052 AGF shares for approximately 8 billion won (approximately 890 million won) in order to diversify its business and increase profitability.
The acquisition was made for ¥320,000. This brings Jeju Beer's stake in AGF to 17.4%. According to Jeju Beer, Allgot is a US supermarket chain.
The company supplies frozen seaweed rolls to chain chain Trader Joe's, and its sales are expected to reach 200 billion won (about 22.25682 billion yen) in 2025.
Jeju Beer plans to secure a foothold for expansion into the global market through AGF's listing on KOSDAQ.
A Jeju Beer official said, "We will look at the situation in the Korean market and proceed with the listing as early as 2025.
"We see Korean food not as a single theme, but as a promising industry. It's a process for us to grow not just as a beer manufacturer, but as a food and beverage company," he said.