(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Minyoung] Jeon Se-gyeong, a member of the owner family of Samyang Foods, has sold all her shares in the company.

On the 18th, Samyang Foods announced that Jeon Se-gyeong sold all 14,500 shares she owned in the company on the 24th of the previous month. As a result, her stake in Samyang Foods decreased from 0.19% to 0%.

The shares were sold at an average price of 502,586 KRW per share, totaling 7,287.49 million KRW (approximately 72.87 billion KRW). Jeon Se-gyeong is the youngest daughter of the late honorary chairman Jeon Jong-yoon and the sister of current chairman Jeon In-jang.

Samyang Foods' stock price has surged this year, driven by the popularity of its "Buldak Bokkeum Myun" (Hot Chicken Flavor Ramen). On the 18th, the stock closed at an all-time high of 712,000 KRW per share, marking a 226.61% increase (494,000 KRW) since the beginning of the year. This rise surpasses the year-to-date stock increase of 171.9% seen by the American semiconductor company Nvidia.

The estimated price-to-earnings ratio (PER) for Samyang Foods this year has soared to 25.5 times, which is higher than the estimated PER of 22.7 times for Coca-Cola.

 

 

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