<a href="https://www.world-today-news.com/baek-jong-won-the-president-of-ewha-university-ramen-house-a-highly-regarded-restaurant-with-100-million-monthly-sales-debt-cerebral-infarction-blindness-in-left-eye/" title="Baek Jong-won, the president of "Ewha University Ramen House", a highly regarded restaurant with 100 million monthly sales… "Debt, cerebral infarction, blindness in left eye"”>The Born Korea listing hit the jackpot
Baek Jong-won, CEO of The Born Korea, became a stock investor holding listed stocks worth 500 billion won.
The Born Korea, which was listed on the stock market (KOSPI) on the 6th, began trading at 46,350 won. Investors flocked in large numbers in the early hours of the market, so the stock price soared to 64,500 won, well above the public offering price of 34,000 won.
Baek Jong-won, CEO of The Born Korea, is hitting a commemorative drum at The Born Korea listing ceremony at the Korea Exchange public relations hall in Yeouido, Seoul on the 6th. Newsis
CEO Baek is the largest shareholder of The Born Korea with 8,792,850 shares (60.78%). If calculated based on the current price of 60,000 won at 9:07 am, CEO Baek’s stock value is 527.571 billion won. Based on the intraday high price of 64,500 won, the value of the stock held increases to 567.13882 billion won.
The Born Korea submitted a securities report to the Financial Services Commission last September and began the full-fledged KOSPI listing process.
CEO Kang Seok-won, who established Dine Industrial, the predecessor of The Born Korea, with CEO Baek 40 years ago, holds 2,076,660 shares (14.36% stake after public offering), worth 124,599.6 million won based on 60,000 won per share. I became rich.
Baek Jong-won, CEO of The Born Korea, is expressing his thoughts while attending The Born Korea KOSPI listing ceremony held at the Korea Exchange Promotion Center in Yeouido, Yeongdeungpo-gu, Seoul on the 6th. Yonhap News
CEO Baek’s path to listing was not easy.
During the International Monetary Fund (IMF) foreign exchange crisis, he had a debt of 1.7 billion won, so he decided to take the drastic step and left for Hong Kong, but after eating delicious food there, he strengthened his will to do business. Afterwards, he returned to Korea, knelt before his creditors and promised, “If you give me a chance, I will definitely repay my debt.”
In his book ‘Baek Jong-won’s Business Story’, he said, “1.7 billion won is an enormous amount when converted to the value of money today, and having to repay that money in my youth is a daunting task,” but added, “I can’t go back to the beginning and do what I can.” “There was no way to change the situation other than to do it and just keep doing what I liked,” he recalled at the time.
CEO Baek ran a ssambap restaurant and a bar while sleeping only four hours a day. It succeeded in making a comeback by launching 25 restaurant brands one after another, including Hanshin Pocha, Baek Dabang, Hong Kong Banjeom, and Saemaeul Restaurant. The number of domestic stores of CEO Baek’s franchise brand is approximately 2,900.
Baek Jong-won (second from the left) and Kang Seok-won (third from the left), co-CEOs of The Born Korea, are taking a commemorative photo with The Born Korea executives and employees at The Born Korea KOSPI listing ceremony held at the Korea Exchange PR Center in Yeouido, Yeongdeungpo-gu, Seoul on the 6th. Yonhap News
Regarding the secret to success, he said, “In the restaurant business, fighting with yourself comes first. You have to repeat things every day that don’t make a difference. If you don’t like it, you can’t do it.”
CEO Baek said he would like to be remembered as a person who laid the foundation for domestic tourism through The Born Korea.
He said, “The restaurant business is bound to fail when the population decreases, and the only way to save it is to attract tourists,” and added, “I want to lay the foundation for Korea to be a ‘tourism powerhouse.’”
Reporter Kim Ki-hwan [email protected]
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