Record of 615.1 Billion KRW Until July This Year
Sales Grew from About 200 Million KRW in Launch Year to 84.2 Billion KRW Last Year
Success of Differentiation Strategies Including Quality and Safety Verification of Nokyong
KGC Ginseng Corporation announced on the 2nd that its premium deer antler brand "Cheonnok" under the CheongKwanJang label has surpassed cumulative sales of 600 billion KRW in just 10 years since its launch.
According to KGC Ginseng Corporation, Cheonnok's cumulative sales reached 615.1 billion KRW as of July. Since the brand was first introduced in 2014, annual sales, which were around 200 million KRW in the first year, soared to 84.2 billion KRW last year, marking a 477-fold growth. The company explained that sales more than double ahead of holidays such as Chuseok. Analysis of the age groups of CheongKwanJang Cheonnok purchasers showed that the main customers were 41% aged 60 and above, and 32% in their 50s, indicating a high proportion of middle-aged and older adults.
Cheonnok means "precious deer antler bestowed by heaven." Deer antler has long been regarded as a valuable ingredient in traditional Korean medicine texts such as Boncho Gangmok. In Korea, deer antler was previously distributed mainly through herbal medicine markets, making it difficult to verify its origin and harvesting methods.
CheongKwanJang cited quality and safety-verified trust as the reasons for Cheonnok's popularity. The product uses 100% top-grade (SAT) deer antler, which has undergone safety inspections by the New Zealand government and producer associations in a pristine environment. New Zealand is the only country with a quality, integrity, and safety management system for deer antler under government supervision. Adding CheongKwanJang's safety analysis capabilities, a total of three stages of raw material assurance systems have been established.
CheongKwanJang applies a direct management process consisting of eight steps (direct contract, production management, safety verification, quality verification, drying management, drying verification inspection, sorting, quality inspection) from farm selection to cold chain transportation after harvest and direct air import to preserve the vitality of raw materials. With 125 years of research expertise, KGC Ginseng Corporation holds eight patents related to deer antler, the most in the industry, based on its unparalleled technological capabilities. Cheonnok is produced through this scientific customized design.
Representative products of the Cheonnok brand include the deer antler concentrate "Cheonnokjeong," the liquid stick form "Cheonnokjeongpyeon" designed for consumer convenience, and the liquid pouch form "Cheonnokton." Additionally, products such as "Cheonnok Lively" for women to recharge vitality with the strong energy of deer antler, "Cheonnok BeStrong" for male stamina, "Cheonnok Energetic" tailored for seniors, "Cheonnok Boosting" for students' physical endurance and concentration, and "Cheonnok Growing" for growing children have also been launched.
A KGC Ginseng Corporation official stated, "CheongKwanJang Cheonnok has established itself in the market through formulation expansion for intake convenience, target segmentation, and product expansion," adding, "We plan to strengthen our portfolio based on scientific efficacy and expand the product range."
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