Sales Revenue from 2014 to April This Year Over 10 Years
3% Market Share in Domestic Health Functional Food Market
Cumulative Sales Volume of 11.52 Million Bottles
KGC Ginseng Corporation announced on the 2nd that its steady seller product representing CheongKwanJang, 'HongSamJeong,' has surpassed a cumulative sales amount of 2 trillion KRW over the past 10 years.
According to KGC Ginseng Corporation, CheongKwanJang HongSamJeong recorded cumulative sales of 2.06 trillion KRW from May 2014 to April this year. With an average annual sales of 200 billion KRW, it holds about a 3% market share in the domestic health functional food market worth 6.2022 trillion KRW, solely with the single product HongSamJeong.
CheongKwanJang HongSamJeong sold 11.52 million bottles over 10 years in cumulative sales volume. When converted to the total number of households in South Korea (21.77 million), it means that one out of every two households purchased HongSamJeong.
According to KGC Ginseng Corporation, among all CheongKwanJang product lines sold over the past 10 years, HongSamJeong achieved the highest sales, followed by 'Everytime,' 'HongSamTon,' 'CheonNok,' and 'HwaAeRak' in order.
The origin of CheongKwanJang HongSamJeong dates back to 1899, the 36th year of Emperor Gojong of the Korean Empire. The Korean Empire, which began managing red ginseng at the national level, showed interest in processing methods that made it easier to consume, moving away from root ginseng products. As a result, a ginseng processing center and a red ginseng steaming facility were established in the Gaeseong area, where the first concentrated red ginseng product in the form similar to the current CheongKwanJang HongSamJeong was created.
CheongKwanJang HongSamJeong is evaluated for optimizing various active ingredients such as saponins, amino acids, red ginseng polysaccharides, and minerals, maximizing the soft taste and aroma of red ginseng itself. It has been officially recognized by the Ministry of Food and Drug Safety for various functionalities including immune system improvement, fatigue recovery, blood circulation improvement through platelet aggregation inhibition, memory enhancement, and antioxidant effects, making it a beloved steady seller among all ages and genders.
Containing 100% red ginseng concentrate, HongSamJeong is used as a core ingredient in various CheongKwanJang products. Additionally, premium lines containing high-quality red ginseng such as 'HongSamJeong Cheon' and 'HongSamJeong Limited,' as well as various concept limited edition versions like 'HongSamJeong Mind Edition' and 'HongSamJeong Heritage Edition,' have been introduced.
Song Sangwook, Senior Brand Manager of KGC Ginseng Corporation, said, "CheongKwanJang HongSamJeong is a product that has been consistently loved for over 100 years," adding, "We will contribute to the health improvement of people worldwide with HongSamJeong, made with over 120 years of CheongKwanJang know-how and scientific manufacturing techniques."
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