MP Group Completes Capital Increase with 25 Billion KRW Investment... "Full-Scale Reconstruction of the Pizza Legacy"

[Asia Economy Reporter Yoo Hyun-seok] The parent company of Mr. Pizza, MP Group, will resume trading of its listed shares on the 7th after a suspension of about 3 years and 4 months. The Korea Exchange KOSDAQ Market Committee reviewed and approved the resumption of trading for Mr. Pizza MP Group through the continuation of the Corporate Review Committee on the 4th.

Shares held by former MP Group Chairman Jung Woo-hyun and related parties were transferred last September to the private equity fund (PEF) Almus-TRI Restructuring Investment Association No. 1, resulting in former Chairman Jung Woo-hyun stepping down from the front lines of management.

A company official stated, "With the appointment of Yang Hee-kwon, Chairman of Pelicana, as the new CEO of MP Group last October, we expect the full-scale reconstruction of the 'Pizza House' to begin," adding, "The new CEO Yang is the principal investor of the PEF that secured management rights of MP Group." The official further said, "MP Group, having changed its largest shareholder and expanded capital through a paid-in capital increase, plans to streamline management by cutting excess and focus on rebuilding the 'Pizza House' by presenting a new business model."

Yang Hee-kwon, the new CEO of MP Group, said, "Since MP Group's trading has been suspended for a long time, I believe shareholders have been greatly disappointed," and added, "We will strive to achieve profitability through large-scale investment and efficient restructuring and maximize shareholder value."

To this end, the company will pursue management efficiency led by cost reduction and expand stores to secure future growth. CEO Yang plans to significantly reduce delivery and logistics costs by utilizing Pelicana's regional logistics bases and increase small-scale delivery-focused franchises within the scope that does not infringe on existing franchise operations. The relocation of the headquarters in Bangbae-dong, where annual rent is expensive, is also under consideration.

They are also planning a K-food model combining the nation's staple foods, pizza and chicken. By integrating delivery know-how accumulated through the chicken franchise, they aim to discover a new type of business model. For overseas markets, they plan to fully leverage Korea's enhanced status through K-pop and K-quarantine and target the market in line with the untact trend opened by COVID-19.

Meanwhile, MP Group's trading was suspended in 2017 after undergoing a suitability review for listing due to former Chairman Jung Woo-hyun's embezzlement and breach of trust cases. At the end of 2018, the company faced delisting but avoided it after the existing largest shareholder family declared they would step away from management, receiving a grace period for improvement.

This content was produced with the assistance of AI translation services.