Wine Korea, Korea’s Representative Wine Maker, Plans 2019 IPO
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Wine Korea, Korea’s Representative Wine Maker, Plans 2019 IPO
Steps on gas to help brand Chateau Mani expand global presence

30(Mon), Apr, 2018




A general view of Wine Korea in Yeongdong, Chungcheongbuk-do. 




A view of Wine Korea’s foot bath tubs.




The facade of Wine Korea headquarters decorated with breath-taking fall foliage.




A view of the entrance of Wine Korea headquarters.



Wine Korea is Korea’s representative winery based in Yeongdong, Chungcheongbuk-do, which has an optimal climate and soil for growing grapes. Wine Korea was established with the goal of raising incomes of grape growers and reinvigorating the regional economy. Thanks to 20 years of efforts and R&D, Wine Korea’s brand Chateau Mani is in the limelight in Korea and abroad. Wine Korea is a leading exemplary company involving the sixth industry ranging from production (growing the raw material grape) to wine making and tourism services related to experience and meals. 

The wine maker has spill-over effects to a wide range of industries in the region, including wine-making and tourism and other service industries. The winery has already emerged as a magnet to attract about 300,000 tourists annually. 

No wonder that Wine Korea has made strides as one of Korea’s top wineries. Wine Korea now aims to expand its presence abroad with an ambitious vision of standing shoulder-to-shoulder with global wine juggernauts. About 200 grape growers-cum Wine Korea shareholders and Chairman of Lee Pil-woo of the Association of Chungcheongbuk-do Residents in Seoul are joining forces in implementing a scheme to list Wine Korea on a Korean bourse. Lee, who has a major stake in Wine Korea, has been credited with his contribution to laying a foundation to the development of the wine maker and Yeongdong. 

Wine Korea Chairman & CEO Brett Yoon said, “The listing of Wine Korea is designed to enhance our company’s standing, reliability, and fund-raising. We’re accelerating efforts to lay a platform to make Yeongdong a Korean version of the U.S. Napa Valley.”

“Wine Korea is a leading exemplary company involving the sixth industry ranging from production (growing the raw material grape) to wine making and tourism services related to experience and meals. 

We’ll strive to make our company a business model of the 10th industry adopting advanced smart technology down the road,” he said. The following are excerpts of an interview between NewsWorld and Wine Korea Chairman & CEO Yoon in which he spoke of his company’s mid- and long-term development strategies. 




Chairman Lee Pil-woo of Dongil Group, concurrently chairman of the Association of Chungcheongbuk-do Residents in Seoul.



Question: Would you introduce Wine Korea’s brand Chateau Mani?


Answer: Wine Korea is a wine maker adopting conventional winemaking tactics, including fermentation and aging, and using sugar-high grapes harvested with no agricultural pesticides from the Yeongdong area, which has an optimal climate and soil for grape growing. 

The company was established with the purpose of ensuring stable incomes to grape growers by purchasing them and making wine in order to reinvigorate the regional economy. In particular, full patronage from Chairman Lee Pil-woo of the Association of Chungcheongbuk-do Residents in Seoul is conducive to the development of Wine Korea. The winery is emerging as a tourist magnet that attracts about 300,000 travelers annually. The brand Chateau Mani represents homegrown wine made with grapes from Mt. Mani in Yeongdong, Chungcheongbuk-do.




A tasting room of the winery.





A cave of the winery filled with thousands of wine bottles and oak barrels.




An oak barrel storage.



Q: Would you elaborate on your brand’s tastes, characteristics, current status as well as the planned release of new products and technology development?


A: Chateau Mani is homegrown wine suiting our tastes. The brand’s products are made with the staple grape variety Campbell Early’s unique grape smells and sweet-sour tastes. They include representative white wine products made with Muscat grapes, which contain dry tastes and diverse tastes. 

The brand’s products are supplied through franchise outlets of Wine Korea, duty-free shops of military welfare centers, and Nonghyup outlets. In particular, under a permission of allowing on-line sales, Chateau Mani products are made available from such on-line sites as Kakaotalk, Cupang and Naver. Such functional wine products as onion wine and mulberry wine have been released. 

Wine Korea is accelerating efforts to work on continuous research on the development of new products with souped-up functions. 


Q: Would you tell our readers about Wine Korea’s equity capital, business performances and shareholdings?


A: Wine Korea whose equity capital stood at 7.5 billion won in 2017 posted 9 billion won in sales and about 600 million won in net profit last year. About 200 grape growers are shareholders, and particularly, Chairman Lee of the Association of Chungcheongbuk-do Residents in Seoul, invested 3 billion for a stake. 


Q: Would you touch on efforts to tap overseas markets?


A: A focus has been so far almost on the domestic market. But Wine Korea began to tap overseas markets by exporting 20,000 wine bottles to Australia in 2017. Our company signed contracts to export a combined 60,000 bottles to China so far this year. Import enquiries from China come from China on a continuous basis. Preparations for exporting win to such countries as Central and South America and Russia are under way by producing wine labels using K-pop hanllyu stars. Wine Korea aims to export about 30,000 bottles worth 5 billion won this year. 






A view of Wine Korea’s Chateau Manie set.



Q: Would you tell us about the significance of Wine Korea’s IPO and future prospects?


A: Wine Korea’s 20 years of efforts and research have attracted the limelight of countries around the world. The listing of Wine Korea is designed to enhance our company’s standing, reliability, and fund-raising. We’re accelerating efforts to lay a platform to make Yeongdong a Korean version of the U.S. Napa Valley. 


Q: Would specify details of the listing of Wine Korea, including the designation of an institution managing the IPO?


A: We’re making preparations to submit an IPO so that our company’s value can be fully recognized with the goal of making the IPO in 2019.





Wine Korea President Yoon Tae-lim. 




(from left) Chateau Mani White, Chateau Mani Sweet Red, and Chateau Mani Dry Red. (Photos: Wine Korea)




Q: Would you present your company’s mid- and long-term development strategies?


A: Wine Korea is a leading exemplary company involving the sixth industry ranging from production (growing the raw material grape) to wine making and tourism services related to experience and meals. We’ll strive to make our company a business model of the 10th industry adopting advanced smart technology down the road. 



   
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