[Special Stock] Kooksoondang Rises on Exclusive Import and Sales News of Cult Wine 'Cardinal'

[Asia Economy Reporter Hwang Yoon-joo] Kooksoondang is showing strong performance until the afternoon following the news that it will exclusively import and sell the cult wine 'Cardinal' from the prestigious American winery 'Jackson Family'.

As of 2:46 PM on the 5th, Kooksoondang is trading at 10,800 KRW, up 4.85% compared to the previous trading day. Kooksoondang, which rose by over 4% since the market opened, continues its upward trend into the afternoon.

Kooksoondang announced the day before that it will exclusively import and sell the American cult wine 'Cardinal'. Cardinal is a wine produced by the same winery that makes the familiar 'Kendall-Jackson' and was previously only available through French n?gociants (intermediaries connecting wine regions and markets).

With recent increases in wine consumption and growing demand for cult wines, the exclusive import and sale of 'Cardinal' is expected to have a positive impact, which is interpreted as the reason for the stock price rise.

Kooksoondang's sales composition is led by Makgeolli at 39%, followed by Baekseju at 19.2%, and wine at 16.5%. Wine sales were 5.687 billion KRW in 2019, just before COVID-19, but increased to 8.063 billion KRW in 2020 and 10.768 billion KRW in 2021. By exclusively importing and selling high-priced and popular cult wines, it is expected to contribute to the improvement of the wine segment's performance.

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