The global meat platform (GMP), a startup established in 2021, announced on the 3rd that it achieved a revenue of 12.6 billion won last year. Cumulative revenue reached 35.2 billion won.
The company decided to distribute 10% of its net income for 2024 as dividends to shareholders for the first time since its establishment. It is unusual for a startup in its fourth year to initiate dividends.
GMP, founded by CEO Park Young-il from the Daewoo Group, has digitized global meat distribution using an analog method. It provides all domestic and international meat market information and price trends, allowing domestic and foreign sellers and buyers to transact based on this.
CEO Park, who built a network through domestic and international meat trade and distribution businesses since before the opening of imported meat in 1997, implemented this in a web and app format.
The company earns intermediary fees through this. Additionally, it is enhancing profitability by incorporating small and medium-sized logistics hubs.
CEO Park noted, “We are recording a sales growth rate of around 30% each year since our founding,” and added, “This year, we aim to continue double-digit sales growth by launching health functional aged meat, patties, and high-protein powder products through existing sales channels. We will strive to distribute up to 20% of our net income.”
With these performance and plans, GMP is making its first attempt to attract investments from venture capital (VC) this year. It also plans to issue a securities-based token.
Immediately after its establishment, GMP was evaluated at a corporate value of 1 billion won and received investment from an accelerator (AC). In May 2022, it was selected for the Inha University Initial Startup Package and received funding for commercialization such as prototype production. The Initial Startup Package is a startup support program organized by the Ministry of SMEs and Startups and operated by the Korea Startup Promotion Agency.