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Jeju Beer Company raised KRW 60 bn funds for the second brew house
Jeju Beer, a Jeju native craft brewery said on Sep 24 that the company successfully attracted as much as KRW 14 billion investments in the first half of this year.
Nearly six entities including a venture capitalist, StoneBridge Ventures, known to provide financial backing at an early stage, has raised funds that amount to KRW 60 billion over the past three years since the brand launching in 2017. With the capital from the investors, Jeju Beer Company builds up its production capacity, establishing another brew house located near Hallim-eup. Once the construction comes to an end probably until June next year, the brewery is forecast to double the production capability, supplying 40 million cans of 500㎖ beer per year.
Jeju Beer Company has already topped the list of microbreweries in Korea, reaching KRW 2.2 billion in sales in 2017, which has jumped up to as much as KRW 14.7 billion in 2019.
This year from January to June, the sales turnover, Jeju Beers says, went over the last year’s annual total.
jesus7864@yna.co.kr
** This article was translated from Korean.
Date
2020.09.29
Views
328
According to Yonhap News,
Jeju Beer, a Jeju native craft brewery said on Sep 24 that the company successfully attracted as much as KRW 14 billion investments in the first half of this year.
Nearly six entities including a venture capitalist, StoneBridge Ventures, known to provide financial backing at an early stage, has raised funds that amount to KRW 60 billion over the past three years since the brand launching in 2017. With the capital from the investors, Jeju Beer Company builds up its production capacity, establishing another brew house located near Hallim-eup. Once the construction comes to an end probably until June next year, the brewery is forecast to double the production capability, supplying 40 million cans of 500㎖ beer per year.
Jeju Beer Company has already topped the list of microbreweries in Korea, reaching KRW 2.2 billion in sales in 2017, which has jumped up to as much as KRW 14.7 billion in 2019.
This year from January to June, the sales turnover, Jeju Beers says, went over the last year’s annual total.
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jesus7864@yna.co.kr
Source: Yonhap News (Sep 23, 2020)
** This article was translated from Korean.