This is the second installment in a series that spotlights Korean products enjoyed by people abroad. ― Ed.
Katya, a 38-year-old mother who lives in Vladivostok, Russia, prefers to use soy sauce of Sempio Foods Co., a Korean condiment maker, rather than salt.
“Korean soy sauce adds not just saltiness but also a distinct flavor of soybeans. It can be used in food in a variety of ways and, of course, is good for health,” she said.
Soy sauce, which has long been a basic ingredient of Asian foods, is now consumed by people around the world for its flavor and nutritional value.
Korean soy sauce, which is darker than its Japanese counterpart, is favored in Russia and Sempio is leading the market.
Salty but healthier appeal
After witnessing the growing popularity of some Korean foods products such as mayonnaise, instant noodles and snacks in Russia in the late 1990s, Sempio entered the market in 2004 with the Russian brand name “Achim,” a Korean word for morning.
“Due to chilly weather, Russians were already enjoying foods preserved with salt. We confirmed Korean soy sauce would appeal to their salty palate,” said Oh Doo-jin, a Sempio official.
As predicted, Russian consumers were not reluctant to accept the flavor of soy sauce, which is made by fermenting soybeans.
Now, they prefer to season meat and other foods with soy sauce instead of salt and enjoy it as a dip for bread, the official said.
Also behind the Russian success of Sempio was the health-conscious drive initiated by the Russian government, which designated 2007 as the year for soybeans.
“The Russian government has promoted the healthy benefits of soybeans and encouraged people to choose soy sauce as substitute for overly-consumed salt there,” Oh said.
Since then, the sales of soybean products have continued to grow. Sempio, which has produced soy sauce over the past 65 years in Korea, recorded a 40 percent sales growth in 2007 alone in Russia.
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A customer (right) looks at a Sempio soy sauce product at a store in Vladivostok, Russia. (Sempio Foods Co.) |
Growth potential
Now Sempio soy sauce is sold at some 50,000 stores in 60 Russian cities. As of 2010, the accumulated sales of the 930-milliter bottle exceeded 1 billion. The Russian market for fermented sauces is estimated to be worth $4 million and is expected to grow 10 percent every year.
With more than 90 percent of soy sauce products coming from abroad, Korean soy sauce holds almost 30 percent of the market share in Russia.
“The soy sauce market is growing every year. The food culture using soy sauce has just started and the growth potential is enough,” Oh said, adding that the company will step up efforts to go global.
In Saudi Arabia, Sempio soy sauce already dominates 50 percent of the market share with its annual sales standing at 1 billion won ($925,000), while in China it is strengthening its market presence, the company said.
Sempio has entered in 68 countries including the U.S., China, Middle East and Russia. Its overseas sales amounted to 15 billion won last year. It expects the sales to reach 20 billion won this year.
By Lee Ji-yoon (
jylee@heraldcorp.com)
