Photo for illustrative purposes. News1
Consumers’ “don-jjul” spending — a Korean term for showering favored businesses with money as a form of support — for Hansung Enterprise and Monami, both facing delisting risks, is translating into actual sales growth and share price gains. As a movement to “save the companies” spreads across online communities and social media, purchases of flagship products such as crab sticks and Monami ballpoint pens are surging.
According to the retail industry on the 19th, sales of surimi sticks at convenience store GS25 rose 70.6% year-on-year during the June 6-12 period. Over the same period, CU’s surimi stick sales climbed 53.8%, while E-mart’s surimi category sales also increased 15% from a year earlier.
The figures reflect total surimi stick sales rather than a specific brand, but considering there were no major promotions during the period, the retail industry views the “support purchases” that spread through social media as having had an impact. The increase was particularly larger at convenience stores, which are frequently visited by young consumers accustomed to value-based consumption.
Veterans’ Goodwill Story Rekindled; Monami’s “National Ballpoint Pen” Support Spreads
Photo courtesy of Hansung Enterprise
Hansung Enterprise, a seafood processing company founded in 1963, has long been loved by consumers for its flagship product, crab sticks. However, it faced delisting risk after failing to meet the market capitalization threshold among recently strengthened listing maintenance requirements. Since then, messages of support urging others to “save the company” continued across online communities, and as the goodwill story of Hansung Enterprise’s steady hosting of concerts for war veterans was rekindled, more consumers extended their support through product purchases.
A similar trend emerged at Monami. As delisting concerns arose amid declining stationery sales due to a shrinking school-age population, support spending calling to “protect the national ballpoint pen company” spread online. In particular, purchase-verification reviews accompanied by messages of support have been posted one after another for the premium “153” ballpoint pen series on Naver Shopping since July.
Shares Also Surge; Companies Express “Gratitude for Support”
Share prices also rose sharply. According to the Korea Exchange, Hansung Enterprise’s stock surged 245% from 4,210 won at the end of June to 14,520 won on the 16th. Monami likewise jumped from 1,200 won to 3,730 won over the same period.
As consumer support continued, the companies directly expressed their gratitude. On the 7th, Hansung Enterprise posted a statement under its employees’ names on its website, saying, “We are deeply grateful for the praise and support that people have recently shown Hansung Enterprise online and on social media,” adding, “As we have done since setting sail in 1963, we will do our best to make ‘good food.'”
Monami CEO Song Jae-hwa also posted a handwritten statement on the company’s official Instagram on the 10th. “In this difficult situation where delisting could occur, the hearts of all of you who trusted, supported, and stood with Monami have been a great source of strength,” Song said. “Monami, which has shared in the records of Korea, will continue to stand firmly by your side.”
Screenshot from Monami’s website
A retail industry official said, “A value-based consumption culture, in which especially young consumers actively purchase companies and products that align with their values and beliefs, is spreading,” adding, “Cases of ‘don-jjul’ spending leading to actual sales growth are gradually increasing.”
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