[Featured Stock] Market Kurly Effect... Related Stocks Surge

by Hwang Junho

Published 15 Mar.2021 10:16(KST)

Seula Kim, CEO of Market Kurly

Lee

[Asia Economy Reporter Junho Hwang] As expectations for Market Kurly's listing on the US stock market grow, related stocks surged on the 15th trading day.

As of 10:12 AM on the day, KC Feed recorded a 28% increase to 4,095 KRW, and Heungkuk F&B also rose 18.17% to 5,300 KRW. Wuyang showed a rise in the 10% range, and Foodwell increased by about 9%.

KC Feed and Heungkuk F&B were classified as related stocks because they supply groceries and other products to Market Kurly. Wuyang was considered a related stock as it mainly produces Home Meal Replacement (HMR) products.

According to Kurly, the operator of Market Kurly, on the 12th, CEO Kim Seul-ah recently shared plans to pursue a listing within the year with team leaders and above. The US economic media outlet The Wall Street Journal (WSJ) cited internal Market Kurly data, reporting that Market Kurly users have a reuse rate of 60%, which is much higher than the industry average of 29%.