Harim Industries expanded rapidly with its premium ready-meal brand “The Misik” (The Gourmet) but saw losses widen despite rising sales. Last year revenue grew 36% to KRW 109.3 billion, yet operating loss increased to KRW 146.6 billion and net loss reached KRW 169 billion as higher marketing, production and logistics costs outpaced growth. Flagship product “Jangin Ramen” (Artisan Ramen) accounts for roughly 42% of sales but lags new competitor premium noodles that matched its annual sales in months. To cover shortfalls, Harim Group injected KRW 50 billion and subsidiaries provided loans, but Harim Industries’ cash reserves remain thin and debt rose, raising concern over financing the group’s KRW 7 trillion-scale Yangjae urban logistics complex (Yangjae urban high-tech logistics complex) development. Delays and plan changes have already pushed approvals toward 2025, and further funding strain could threaten the project’s start.
