Taiwanese giving thanks with Korean ginseng

This is the third installment of a series that spotlights Korean products enjoyed by people overseas. ― Ed.

Cheng Sheng I, a Taiwanese dealer for Cheong Kwan Jang, the Korean red ginseng brand name solely owned by Korea Ginseng Corp., is currently busy dealing with soaring orders from stores nationwide.

“Taiwanese businesses are on a holiday rush since Chinese Thanksgiving last month. Affected by the recent well-being trend here, health products are popular as gifts and Korean ginseng is one of the favored items,” he said.

“Many Asians know about the quality of Korean ginseng through history. Cheong Kwan Jang has become a premium gift item here.”

Korean ginseng was sought-after item in ancient trade. In order to store ginseng as long as possible and make it lighter and smaller, Korean traders steamed and dried ginseng, turning it red.

Korea Ginseng Corp., which marks 112 years of establishment this year, found the traditional method increases saponin, a potent medicinal component in ginseng, and other ingredients. And the company’s research work using modern technology was led to the creation of the household name Cheong Kwan Jang, which now is sold in 60 countries around the world.

Cheong Kwan Jang red ginseng products have been donated to foreign heads of state or VIPs who visited Korea. A set of Cheong Kwan Jang products was also an official souvenir during the G20 Summit held last year in Seoul.

Due to its warm weather, Taiwan has imported all ginseng products from neighboring countries such as Korea and China.

“Despite a big price difference with Chinese products, consumers prefer the Korean brand which offers a variety of ginseng products,” said Kim Yong-bin, an official of Korea Ginseng Corp.

Adding to the company’s success in commercializing Korean ginseng, the K-Pop sensation in the country has also contributed to the recent popularity of Cheong Kwan Jang in Taiwan, Kim said.

“The popular K-pop has made Korean culture and products felt more familiar,” Kim said.

“Many channels there show Korean dramas such as the hit series Daejanggeum, or Jewel in the Palace, in which the main character Joseon Dynasty chef-turned-doctor often uses ginseng as key ingredients of royal court cuisine,” he said.

With most signature items such as red ginseng extracts popular in Taiwan as well, they especially enjoy sliced ginseng roots that are boiled in water as tea, according to Kim.

In August, the company also launched its first kaoliang liquor using red ginseng exclusively targeting Taiwanese drinkers in the northern part of the country.

“Based on recent consumer research there, we thought the very strong but smooth liquor could appeal to them as a VIP gift,” Kim said.

The company, which entered Taiwan almost 30 years ago, aims to step up efforts to strengthen its market dominance in the growing market, with more flagship stores planned in the coming years.

Last year, the company logged $7.29 billion in its overseas sales. Taiwanese sales of Cheong Kwan Jang recorded $1.57 billion last year and the company expected the figure could double this year.

By Lee Ji-yoon (jylee@heraldcorp.com)