Jung Yong-jin and Baek Jong-won Join Forces... 900 Tons of Sea Eel Stock 'Sold Out Frenzy'

Vice Chairman Jeong Yong-jin of Shinsegae Group promoted a product by posting the 'Matnam-ui Gwangjang Braised Sea Eel' meal kit on his personal SNS account on the 9th. (Photo by SNS capture)

[Asia Economy Reporter Seungjin Lee] Chung Yong-jin, Vice Chairman of Shinsegae Group, has once again stepped up to help fishermen at the request of Baek Jong-won, CEO of The Born Korea. Following the promotion of Gangwon-do Gangneung’s imperfect potatoes and Jeonnam Haenam’s king sweet potatoes, he is now working to boost domestic consumption of sea eel.

According to the distribution industry on the 10th, the meal kit "Matnam’s Plaza Sea Eel Radish Stew" sold at Emart and the online shopping mall SSG.com is causing a sold-out frenzy. At SSG.com, the product has been sold out and no additional stock has been replenished.

Earlier, on the 6th, the SBS TV entertainment program "Matnam’s Plaza" introduced the sea eel fishermen in Tongyeong, whose export routes were blocked due to the impact of the novel coronavirus (COVID-19), resulting in accumulated inventory. Approximately 900 tons of sea eel were stockpiled in the Tongyeong area, most of which were on the verge of being discarded.

At that time, CEO Baek developed sea eel soy sauce rice bowl and radish stew dishes, and after meeting with buyers from the "Tall Uncle Mart," the "Matnam’s Plaza Sea Eel Radish Stew" meal kit was completed. "Tall Uncle" refers to Chung Yong-jin, Vice Chairman of Shinsegae, who previously attracted attention by selling agricultural products such as Gangwon-do’s imperfect potatoes and Haenam’s king sweet potatoes at Emart at Baek’s request.

After the broadcast aired, Vice Chairman Chung promoted the "Matnam’s Plaza Sea Eel Radish Stew" meal kit through his personal SNS, helping to boost domestic consumption of sea eel. On the 9th, he posted photos of the product and himself cooking and eating it for dinner on his personal SNS.

The win-win marketing between Vice Chairman Chung and Emart continues to shine daily. The imperfect potatoes sold last year were sold out within half a day, and Emart’s win-win management has spread throughout the industry. In April, 300 tons of less marketable Haenam king sweet potatoes were purchased and sold through five Shinsegae Group affiliates including SSG.com, Shinsegae TV Shopping, and Emart Everyday, receiving great response.

An Emart official explained, "Sea eel is generally eaten grilled because it is difficult to cook, but with Baek Jong-won’s recipe, we developed a meal kit that can be easily prepared and eaten at home," adding, "It is not a limited edition but will be sold as a regular product."