[Monitor] Korea Ginseng, SPC join W1tr club

The number of food and beverage companies in South Korea surpassing the 1 trillion won mark in terms of sales increased to 21 last year, with Korea Ginseng Corp., a red ginseng processing company, and SPC Samlip, the nation’s largest bread maker, joining the group.

According to data compiled by Ministry of Agriculture, Food and Rural Affairs and Korea Agro-Fisheries and Food Trade Corp., CJ Cheiljedang topped the list with 4.86 trillion won of sales, followed by Lotte Chilsung Beverage and Ottogi, which saw annual revenues of 2.26 trillion won and 1.95 trillion won, respectively. Instant noodle maker Nongshim ranked fourth with 1.86 trillion won while Daesang, a consumer food company, placed fifth with 1.85 trillion won.

In 2005, the country had only four companies in the 1 trillion won club, the ministry added.