Deep-dive 2021-23: Sempio Foods

Sempio Foods (248170 KS) is Korea’s leading soy sauce producer. It has a 60% market share for soy sauce domestically and strength in a variety of related condiments such as bean pastes and chilli sauces. The company was initially established as the Samsi Soy Sauce Brewery in 1946. Founding father Park Kyu-Hoe and his son were obsessed with product quality. Profitability had been weak throughout most of the company’s history, however, with management prioritising market share gains over profitability.

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