Jeju Beer, Newly Listed on KOSDAQ... "Will Lead Korea's Beer 'Third Wave'"

On the 26th, at the Korea Exchange Seoul Headquarters Promotion Center in Yeouido, Seoul, during the listing ceremony of 'Jeju Beer' on the KOSDAQ market, Moon Hyuk-ki, CEO of Jeju Beer, is performing a drum-beating event to celebrate the listing. (Photo by Jeju Beer)

[Asia Economy Reporter Seungjin Lee] Jeju Beer held a ceremony on the 26th at the Korea Exchange in Yeouido, Seoul, to commemorate its new listing on the KOSDAQ market.

Jeju Beer is the first company in the beer industry to be listed on the KOSDAQ. Since launching the ‘Jeju Wit Ale’ in 2017, it has been leading the popularization of craft beer. In 2020, it achieved total sales of 33.5 billion KRW, showing an average annual growth rate of 148%, establishing itself as a leader in the craft beer market. After recording a 5.1% market share in the craft beer market in 2017, it secured a 28.4% market share in 2020.

Jeju Beer plans to invest most of the public offering funds in strengthening research and development (R&D) and expanding into overseas markets, leading the ‘third wave’ of the Korean beer industry. From its founding stage, Jeju Beer introduced large-scale facilities through Beerbev, Europe’s number one beer equipment consulting company. Based on this infrastructure, the goal is to lead the domestic craft beer industry into the mainstream, just as craft beer has driven growth in the beer markets of countries like the United States and Europe.

One of Jeju Beer’s competitive advantages is securing a global distribution network through its partnership with Brooklyn Brewery. Jeju Beer plans to first target the Southeast Asian market by utilizing this global distribution network. Prior to this, it recently strengthened its technology research center into a research and development headquarters to continuously focus on stable quality control and the development of high-quality products centered on the essence of beer.

Jeju Beer previously conducted a demand forecast targeting institutional investors, with 1,447 institutions participating and recording a competition rate of 1,356.43 to 1. The public offering price was finalized at 3,200 KRW, exceeding the desired range (2,600 KRW to 2,900 KRW). Among all participating institutions, 99.45% offered prices above the upper limit of the public offering price, proving strong interest.

Subsequently, the public subscription for general investors was held from the 13th to the 14th, recording a subscription competition rate of 1,748.25 to 1, the highest ever among companies listed under the Tesla requirements (special exception for unprofitable companies). The total public offering amount was approximately 26.8 billion KRW, and the market capitalization after listing is 179.2 billion KRW based on the public offering price.

In his listing commemorative speech, Moon Hyuk-ki, CEO of Jeju Beer, said, “Jeju Beer’s listing is a 1% challenge breaking the 99% market dominated by large domestic and imported beers, and a signal marking a turning point in the Korean beer market.” He expressed his ambition, saying, “Just as the coffee industry transformed into a market where everyone can enjoy a variety of high-quality options, the ‘third wave’ of the beer industry, where everyone enjoys craft beer culture, will come led by Jeju Beer.”

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