Yuyeong Global Expands Platform in Seafood Distribution... "Entering Inner Beauty, Aiming for KOSDAQ via KONEX"

[Asia Economy Reporter Jang Hyowon] Yooyoung Global announced on the 13th that it is accelerating efforts to list on KONEX in the second quarter.

Founded in 2018, Yooyoung Global started with the import and wholesale distribution of seafood and recently has been manufacturing and selling health snacks. Jung Minchang, CEO of Yooyoung Global, said, “Our own brand ‘Miyu’ and children’s health snacks featuring the popular character ‘Pororo and Friends’ have seen a rapid increase in sales both online and offline, including convenience stores, large supermarkets, Coupang, and Market Kurly,” adding, “We also have significant export volumes to China, Vietnam, and Myanmar.”

The company explained that the reason for producing health snacks from a seafood company is because the corporate vision focuses on consumer health. Yooyoung Global’s vision is “to mobilize all corporate capabilities to create healthy, delicious, and cost-effective food products.”

Yooyoung Global is preparing to launch seafood health foods this spring. The company stated, “The trend of ‘inner beauty,’ meaning cultivating health and beauty from within the body, is emerging.”

According to the Korea Health Functional Food Association, the domestic inner beauty market size grew from 50 billion KRW in 2011 to an estimated 1 trillion KRW last year, with collagen-based products accounting for 50% of the market. As interest in inner beauty rises, the inner beauty market using seafood raw materials such as fish collagen, fish protein, fish oil, DHA, and EPA is also rapidly growing.

CEO Jung said, “Although the domestic market is still in its early stages, in Japan, the inner beauty market using seafood raw materials has already formed a trillion-won scale,” adding, “We plan to expand the domestic market and exports simultaneously.”

Additionally, Yooyoung Global owns a subsidiary that develops platforms. Tricore has developed seafood distribution platforms, alcoholic beverage wholesale and retail platforms, and steel scrap distribution platforms. This was born from efforts to overcome the limitations of distribution encountered during food development at the parent company, Yooyoung Global, through the subsidiary’s platforms.

In particular, the steel scrap platform was jointly developed with investment from the top domestic steel company’s first-tier vendor. The company added, “We are collaborating with major banks, and development is nearly complete to the point where service can start once the financial payment module is approved.”

Currently, Yooyoung Global is preparing for a KONEX listing to ensure transparent management and growth. According to the industry, the KONEX market is expected to be revitalized due to the KONEX market improvement plan announced by the Financial Services Commission and Korea Exchange on the 9th.

CEO Jung recently participated solely in a company capital increase valued at 14 billion KRW. This is 40% higher than the RCPS conducted at a 10 billion KRW valuation last year, expressing strong confidence in the company’s growth potential.

After the KONEX listing, CEO Jung stated, “With the growth of the platform and inner beauty products, we expect a smooth transition to KOSDAQ listing,” and added, “We will continue high growth by manufacturing everything from seafood raw materials to finished products.”

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