The Born Korea Posts Q3 Operating Loss of 3.7 Billion Won... Loss Narrows 15% YoY

Yonhap News Agency

On Nov. 13, The Born Korea said it recorded revenue of 85 billion won and an operating loss of 3.7 billion won on a consolidated basis in the third quarter of this year. Revenue fell 2.6% year over year, while the operating loss narrowed by about 15%.

The Born Korea said that, unlike last year, when it provided large-scale support to franchisees, it is maintaining normal business operations this year and focusing on improving profitability.

However, the company expects costs incurred by some overseas subsidiaries to continue to affect its consolidated results for the time being, as it presses ahead with investments to expand its overseas business and build a foundation for its distribution business.

The Born Korea is expanding its restaurant meal replacement (RMR) product lineup using its brands' intellectual property (IP) and entering overseas markets as it seeks to transform from a business structure centered on its existing franchises into a comprehensive food company.

The Born Korea said, "We plan to expand our business by considering strategic mergers and acquisitions (M&A), developing a global business based on sauces, diversifying our distribution products, and pursuing new businesses. We will also continue to enter overseas markets, including North America, Southeast Asia, China, Japan, and Europe."

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