“Korea’s Gordon Ramsey is pushing for Baek Jong-won’s listing, the timing is good” – Bloomberg

Related article – Bloomberg capture

Bloomberg News reported on the 25th that Baek Jong-won, CEO of The Born Korea, who was reborn as a world-class chef from Korea’s leading chef through ‘Black and White Chef’ broadcast by global streaming company Netflix, is pursuing the listing of his company.

Bloomberg said it is unclear whether the initial public offering (IPO) will be a huge hit, but he believes the timing of the listing is good.

As a result of Black and White Chef, CEO Baek has become a world-famous celebrity to the point where he is called ‘Korea’s Gordon Ramsay’, and interest in Korean cuisine is exploding.

Black and White Chef has become so popular around the world that it ranked first among non-English programs on Netflix.

With this opportunity, the Korean restaurant industry, which had fallen into hibernation after COVID-19, is coming back to life. This is of great help to the Korean restaurant industry, with the restaurants of chefs who participated in the contest being so busy that they are unable to make reservations.

Since the program aired, various memes and characters of the featured chefs are still being widely discussed online.

Especially now, thanks to the K-culture wave, Korean food is gaining popularity overseas. The timing of listing is very good.

CEO Baek, 58 years old, has increased his presence at various food shows.

Culinary researcher Baek Jong-won is giving a greeting at the production presentation of tvN’s new entertainment show ‘Business Genius Baeksajang’ held at the Seoul Garden Hotel in Mapo-gu, Seoul on the morning of the 29th. ⓒ News1

He has appeared in a variety of food-related programs, from programs that introduce recipes that can be easily made at home to trips abroad in search of local cuisine. In particular, his YouTube channel has 6.6 million viewers.

Bloomberg predicted that due to his fame and the global popularity of Korean food, this IPO is likely to revitalize the sluggish Korean IPO market.

Meanwhile, The Born Korea is offering 3 million shares through this listing. The expected public offering price per share is 23,000 to 28,000 won, and the total expected public offering amount is approximately 69 billion to 84 billion won. The Born’s largest shareholder is CEO Baek Jong-won, holding 8,792,850 shares (76.69%).

Bloomberg introduced that The Born, established in 1994, currently operates 25 brands (approximately 2,900 stores), including Baek Cafe and Hong Kong Restaurant, based on franchises.

(Seoul = News 1)

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