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Thursday 30 March 2023
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CheongKwanJang pursues Wellness Category Creator
Established in 1899, Korea Ginseng Corporation (hereafter CheongKwanJang) has been a leader in the H&B industry for over 120 years, caring for the health of people around the world. Among all, ginseng-based herbal supplements are CheongKwanJang's greatest pride, enabling the CheongKwanJang brand to retain its position as the World's No.1 Ginseng Brand for decades.
Starting with 100 years of heritage and Red Ginseng Extract, CheongKwanjang's bestseller Everytime, and GoodBase mixed with Red ginseng and fruit/ vegetables, Cheong Kwan Jang has been much loved for over 100 years and by developing products with red ginseng and other functional ingredients (maca, antler, etc.), CheongKwanJang is playing a lead role as a wellness category creator in the duty-free industry.
The herbal market has grown steadily during the COVID-19 pandemic. Herbal category leader, CheongKwanJang's global sales in 2022 also increased by 17% as compared to pre-COVID-19 figures. In addition, CheongKwanJang exports to about 40 countries around the world, maintaining a 42% share of the global ginseng market. Despite the pandemic, CheongKwanJang gained market expansion in Europe, including the UK and Germany, as well as the Middle East, including the UAE and Qatar, and opened the Ginseng Museum Cafe on Manhattan's 5th Avenue, the most famous street in the US. Also, through partnerships with major duty-free operators such as Dufry, DFS and Lotte, etc., CheongKwanJang has been continuously preparing for the reopening of duty-free stores as it opens new duty-free stores in Vietnam and Jordan.
In the past 3 years, people have placed growing importance on health and have become more interested in self-healing (immunity and happiness). In line with this trend, CheongKwanJang pursues a new value, i.e., ‘wellness category creator’. Ginseng has been consumed for over 2,000 years and this herbal ingredient enjoys great popularity in Asia, including China. From the second half of 2023, there will be an explosive increase in the number of China tourists around the world as the demand for overseas travel expands. As a mega brand of health foods, CheongKwanJang is proud to be a brand that can significantly contribute to sales in the duty-free business.
A first mover in the duty-free health food category and a creator that pioneers new markets, CheongKwanJang seeks to, once again, expand its business centered on the China Tourist Belt. CheongKwanJang also strives to become a leading brand in the wellness category that cares for the health and happiness of people around the world.
"With more than 120 years of history, Cheong Kwan Jang pursue to be the Wellness Category Creator."
Cheong Kwan
