[더구루=한아름 기자] KGC Ginseng Corporation Cheong Kwan-jang plans to expand its business territory beyond Korea into the global functional health foods market.
The plan is to position ‘Red Ginseng Extract Heritage Edition’ as a global luxury brand through marketing that emphasizes the No. 1 health food. 1 red ginseng worldwide. CheongKwanJang is the unrivaled #1 red ginseng brand with a market share of 41.9% in the red ginseng health food market as of 2022.
On the 2nd, CheongKwanJang announced that it will actively expand its global business this year based on its unrivaled market dominance in the red ginseng health food industry. The goal is to increase sales by continuously introducing new products. As of last year, the company is estimated to have entered 40 countries around the world, including the United States and China, and has 205 product lines.
In particular, CheongKwanJang will focus its capabilities on business in Indonesia and the United States this year. In December last year, “Red Ginseng Extract Heritage Edition” and prostate health functional food “RXGIN CLEAN” (RXGIN CLEAN) were introduced in Indonesia.
The Hongsamjeong Heritage Edition is based on the concept of “a small museum for you” and includes 6 national-level cultural heritages with historical and cultural value, including the Hwangnamdae Chonggeum Crown, Gilded Bronze Bangasayu Statue, Celadon Incense Burner cloisonné, the white porcelain moon vase, the 40-story stone pagoda of Gyeongcheon and the Oegyujanggak Uigwe, a limited edition depicting a sensually designed bell. It can be read as a strategy to capture the attention of consumers interested in Korean culture and red ginseng.
In the case of RXGene it was highlighted that the effectiveness of red ginseng oil, the main ingredient, was published in an international academic journal. Based on the results of a study conducted by Kim Se-woong, professor at the Department of Urology of St. Mary’s Hospital in Seoul, that symptoms of prostate enlargement such as frequent urination (frequent urination), nocturia, delayed urination and Urinary urgency (feeling of difficulty holding urine) and sexual dysfunction can be improved. Productivity has been scientifically proven.
American business also attracts attention. This is because we are actively promoting marketing, including accelerating the introduction of products into traditional restaurants. In October last year, Cheong Kwan Jang first opened its red ginseng drink “HSW” at the health restaurant chain “Waba Grill”. Waba Grill is a franchise that operates approximately 190 stores primarily in California and Arizona.
It is interpreted as a strategy to expand HSW’s customer touchpoints by opening a restaurant, while at the same time creating opportunities to connect them to purchases at the company’s mall. Additionally, Director Jeong Kwan-jang plans to promote HSW’s guerrilla marketing in local attractions, entertainment venues, farmers’ markets, grocery stores, office complexes and major shopping malls in California.
Attention is being paid to the possibility that CheongKwanJang’s expansion into the global health food market will lead to increased sales. An official from KGC Ginseng Corporation said, “We plan to continuously carry out marketing activities suitable for each country in the world to expand CheongKwanJang exports.”
Meanwhile, KGC Ginseng Corporation’s export amount of CheongKwanJang in the first half of last year was KRW 130.8 billion, an increase of 19.2% compared to the same period last year. The export amount in 2022 was 201.6 billion won, continuing to grow steadily after △147.9 billion won in 2020 and △178.2 billion won in 2021.
2024-01-02 02:49:13
#Cheong #Kwan #Jang #expands #global #red #ginseng #territory #Exports #countries #worldwide #market #share