Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Choheung - A Breakout Quarter Driven by Surging Frozen Pizza Sales

Innovative Foods = Portfolio Outperformance

Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/7999" target="_blank" data-smartkarma-citation="entities:7999:1">Choheung Corp (002600 KS)</a>makes 100% of the frozen pizzas sold under Ottogi brand name. This pizza has been exploding in sales in the past year. The frozen pizza market was about 5 billion won in Korea in 2015 and 25 billion won in 2016; it is likely to be about 50 billion in 2017, representing nearly 10x growth in two years. Choheung has about 70-80% market share in the frozen pizza market in Korea.For some reason, the frozen pizza market was a dead market in Korea for many years. The quality of…

Choheung Corp (002600 KS)makes 100% of the frozen pizzas sold under Ottogi brand name. This pizza has been exploding in sales in the past year. The frozen pizza market was about 5 billion won in Korea in 2015 and 25 billion won in 2016; it is likely to be about 50 billion in 2017, representing nearly 10x growth in two years. Choheung has about 70-80% market share in the frozen pizza market in Korea.For some reason, the frozen pizza market was a dead market in Korea for many years. The quality of…

Choheung - Benefiting from 10x Growth of Frozen Pizzas in Korea in Two Years