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αSK Primers

Smartkarma AI Primers

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<ul>
 <li>Pulmuone is a key player in the Korean food market with a strong brand identity centered on fresh, wholesome, and sustainable products, particularly dominating the domestic tofu segment.</li>
 <li>The company is strategically focused on global expansion, with a significant presence in the U.S. tofu market, and is actively growing its footprint in China and other regions. However, its Japanese operations have faced challenges and are currently undergoing restructuring.</li>
 <li>Financial performance shows consistent revenue growth, but net income has been volatile. Future growth is expected to be driven by the rising global demand for plant-based and healthy foods, alongside expansion into new product categories and international markets.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Pulmuone is a key player in the Korean food market with a strong brand identity centered on fresh, wholesome, and sustainable products, particularly dominating the domestic tofu segment.
  The company is strategically focused on global expansion, with a significant presence in the U.S. tofu market, and is actively growing its footprint in China and other regions. However, its Japanese operations have faced challenges and are currently undergoing restructuring.
  Financial performance shows consistent revenue growth, but net income has been volatile. Future growth is expected to be driven by the rising global demand for plant-based and healthy foods, alongside expansion into new product categories and international markets.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Pulmuone Co Ltd (017810 KS) - Aug 2026

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this insight, we review the relative performances of the 11 Korea Small Cap Gem series published so far in 2025 (as of 13 August).</li>
<li>We also argue how small caps could be one of the important indicators in the Korean stock market. </li>
<li>These 11 stocks are up on average 32.9% (from date of the Korea Small Cap Gem series publication to 13 August 2025).These 11 stocks have significantly outperformed KOSPI and KOSDAQ. </li>
</ul>


In this insight, we review the relative performances of the 11 Korea Small Cap Gem series published so far in 2025 (as of 13 August).
We also argue how small caps could be one of the important indicators in the Korean stock market. 
These 11 stocks are up on average 32.9% (from date of the Korea Small Cap Gem series publication to 13 August 2025).These 11 stocks have significantly outperformed KOSPI and KOSDAQ. 


A Review of Korea Small Cap Gem Series So Far in 2025 and Small Caps as Important Market Indicator

<ul>
<li>In this insight, we discuss the recent buying and selling by the Korea National Pension Service (NPS) of Korean stocks.</li>
<li>Of the 176 Korean stocks in which NPS reported changes in ownerships in 2Q 2022, NPS increased its stakes in 115 companies and reduced stakes in 61 companies.</li>
<li>NPS mostly increased stakes in aerospace, defense, construction equipment, and energy sectors while reducing stakes in telecom and tourism related stocks.</li>
</ul>


In this insight, we discuss the recent buying and selling by the Korea National Pension Service (NPS) of Korean stocks.
Of the 176 Korean stocks in which NPS reported changes in ownerships in 2Q 2022, NPS increased its stakes in 115 companies and reduced stakes in 61 companies.
NPS mostly increased stakes in aerospace, defense, construction equipment, and energy sectors while reducing stakes in telecom and tourism related stocks.


NPS Sells SK Bioscience, Naver, & LG Electronics and Buys Kakao Bank, Lotte Corp, & Samyang Foods

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example <a href="https://www.smartkarma.com/entities/nanos-co-ltd" target="_blank" data-smartkarma-citation="entities:16796:1" rel="noopener">Nanos Co Ltd (151910 KS),</a>which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including <a href="https://www.smartkarma.com/entities/sang-a-frontec-co-ltd" target="_blank" data-smartkarma-citation="entities:20692:1" rel="noopener">Sang A Frontec (089980 KS)</a>, Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), <a href="https://www.smartkarma.com/entities/koreacenter-com-co-ltd" target="_blank" data-smartkarma-citation="entities:28329:1" rel="noopener">Koreacenter.com Co Ltd (290510 KS)</a>, and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions.

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example Nanos Co Ltd (151910 KS),which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including Sang A Frontec (089980 KS), Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), Koreacenter.com Co Ltd (290510 KS), and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions. 

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

Thematic (Sector/Industry)

<ul><li>In this report, we highlight nine new, innovative products in the Korean F&amp;B sector introduced in 2017 that are having significant impact on the consumer buying patterns. This report is Part II of the Innovative Foods series in Korea (<a href="https://www.smartkarma.com/insights/innovative-foods-portfolio-outperformance" target="_blank" data-smartkarma-citation="insights:3891">Innovative Foods = Portfolio Outperformance</a>).</li><li>Recent, new innovative products in the Korean F&amp;B sector include Hitejinro's Filite, Orion Corp's Kobbuk Chips, Nongshim's instant noodles without soup, and Binggrae's Yellow Cafe Salted Lattes.  </li><li>Product innovation is one of several critical factors that impact share price performance of a stock. In the Korean F&amp;B sector, companies such as <a href="https://www.smartkarma.com/entities/7615" target="_blank" data-smartkarma-citation="entities:7615:1">Orion Corp (001800 KS)</a> and Maeil Dairy Industry (267980) that have introduced innovative foods &amp; beverages combined with a change into a Holdco organizational structure have been superior outperformers. For example, Orion Corp and Maeil Dairy Industry are up 33% on average YTD. The eight companies with innovative products in 2017 that we include in this report are up 17.4% on average YTD.</li></ul>

In this report, we highlight nine new, innovative products in the Korean F&amp;B sector introduced in 2017 that are having significant impact on the consumer buying patterns. This report is Part II of the Innovative Foods series in Korea (Innovative Foods = Portfolio Outperformance).Recent, new innovative products in the Korean F&amp;B sector include Hitejinro's Filite, Orion Corp's Kobbuk Chips, Nongshim's instant noodles without soup, and Binggrae's Yellow Cafe Salted Lattes.  Product innovation is one of several critical factors that impact share price performance of a stock. In the Korean F&amp;B sector, companies such as Orion Corp (001800 KS) and Maeil Dairy Industry (267980) that have introduced innovative foods &amp; beverages combined with a change into a Holdco organizational structure have been superior outperformers. For example, Orion Corp and Maeil Dairy Industry are up 33% on average YTD. The eight companies with innovative products in 2017 that we include in this report are up 17.4% on average YTD.

Innovative Foods = Portfolio Outperformance (II)

South Korea

Pulmuone Co., Ltd. is an investment holding company.  The Company, through its subsidiaries, produces natural health food.

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Pulmuone Co Ltd (017810 KS)

Primer: Pulmuone Co Ltd (017810 KS) - Aug 2026

Pulmuone is a key player in the Korean food market with a strong brand identity centered on fresh, wholesome, and sustainable products,...

αSK Primers

A Review of Korea Small Cap Gem Series So Far in 2025 and Small Caps as Important Market Indicator

The 11 stocks included in the Korea Small Cap Gem series published so far in 2025 are up on average 32.9% (from date of publication to 13 August...

Douglas Kim

NPS Sells SK Bioscience, Naver, & LG Electronics and Buys Kakao Bank, Lotte Corp, & Samyang Foods

NPS moves the Korean stock market more than any other investor. In this insight, we discuss the recent buying and selling by the Korea National...

Douglas Kim

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

We highlight the KOSDAQ150 and KRX300 indices rebalances. There are some interesting new names, especially among those that are over lapping in...

Douglas Kim

Innovative Foods = Portfolio Outperformance (II)

In this report, we highlight nine new, innovative products in the Korean F&B sector introduced in 2017 that are having significant impact on...

Douglas Kim

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