The Born Korea(475560) shares are surging early on the 18th. Buying is seen pouring in after news that The Born Korea will expand its North American operations.

Paik Jong-won, CEO of The Born Korea (left), and Ratan "Ray" Gupta, CEO of Sunray Group (right), sign an MOU for cooperation in the restaurant business./Courtesy of The Born Korea

As of 9:11 a.m. that day, The Born Korea stock was trading at 18,970 won on the Korea Exchange, up 3,080 won (19.38%) from the previous session.

The Born Korea said before the market opened that day that CEO Paik Jong-won signed a memorandum of understanding (MOU) with Sunray Group, a major Canadian hotel and real estate company, to cooperate in the dining business. It also said it will push to produce TBK sauce in the United States.

Sunray Group is a company that operates about 80 global brand hotels in Canada, including Marriott, Hilton, and Hyatt. The Born Korea and Sunray Group are drawing up detailed plans after agreeing to convert a store Sunray Group operates in Markham in the Greater Toronto Area to The Born Korea's dining brand.

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