"We are deeply grateful for love beyond what we deserve."
Hansung Enterprise, which has drawn a wave of consumer support and individual investor interest following the government's tightening of delisting rules, issued an official statement expressing its gratitude. The company is widely known for its premium crab stick brand "Crami."
According to industry sources on Tuesday, Hansung Enterprise posted a "message of thanks" on its official website on Monday, saying, "We sincerely thank you for the warm interest and support you have shown recently online and on social networking services (SNS)." The company added, "While we are delighted by the great affection and encouragement, we also feel cautious about whether we alone are receiving excessive praise."
The company took a careful stance on the "patriotic company" label that recently spread online. Regarding the "Music Concert for Heroes" for UN war veterans, which has continued for 25 years and was credited solely to the company, Hansung said, "Since this event has been sustained not only by us but by the sponsorship of like-minded companies and the volunteer work of musicians, we want to share our gratitude together."
The company also corrected the record on some claims that it uses only domestic ingredients. Hansung said, "While we strive to prioritize domestic raw materials, we also use overseas raw materials in consideration of quality and price." It added, "The country of origin for each product is transparently disclosed on our website, and we believe that honest disclosure is the right thing to do."
The company went on to stress, "As we have done since our first voyage in 1963, our most important mission is to make good food that anyone can enjoy safely and deliciously." It added, "We will remain an honest food company faithful to the basics rather than to grandiose modifiers."
The support for Hansung Enterprise is tied to the delisting criteria strengthened early this month. From the 1st of this month, the Korea Exchange raised the market capitalization threshold to 30 billion won for the KOSPI and 20 billion won for the KOSDAQ. From January next year, these will be raised further to 50 billion won and 30 billion won, respectively. As Hansung Enterprise's market capitalization remained at around 30.6 billion won, concerns over delisting emerged.
After the company's social contribution activities for Korean War veterans were brought back into the spotlight online, "support consumption" from consumers and buying pressure from individual investors converged at the same time. Orders on the company's own online mall increased tens of times more than usual, and some products were sold out or faced shipping delays.
The stock price also stirred. After moving sideways in the 4,200-won range through the 3rd and 4th, the share price surged starting on the 6th, jumping to as high as 5,150 won during intraday trading. As of 1:20 p.m. that day, it was trading at 4,860 won, up 225 won, or 4.85%, from the previous day.
