SEOUL, South Korea, Dec. 28, 2023 /PRNewswire/ — On December 1, 2023, Jung Kwan Jang honors its 124th anniversary with the unveiling of the Red Ginseng Heritage Edition, a tribute to the company’s respect for Korean cultural heritage.
Conceived as a “small museum for your own,” Red Ginseng Extract Heritage Edition is a limited edition that packages Jung Kwan Jang’s signature product, Red Ginseng Extract in six exquisite designs inspired by national treasure-equivalent cultural heritages.
Rooted in shared history and trajectory with Jung Kwan Jang, the beginning Red Ginseng Extract goes back to 1899, the 36th year of King Gojong’s reign. The Korean Empire’s red ginseng monopoly generated significant revenue for the imperial family, constituting over the half of the family’s yearly budget. Adopting a national approach to red ginseng management, the Korean Empire paid attention to the development of processing methods for easier consumption of red ginseng, beyond traditional root forms. As a result, the first processed red ginseng concentrate product like the current Red Ginseng Extract Jung was born in Gaesung, Gyeonggi-do in 1912.
Korea Ginseng Corporation (KGC), Korea’s leading health supplement company, is faithfully carrying forth the tradition. KGC is paving a unique way that no one can follow, popularizing and globalizing red ginseng through systematic cultivation management system, rigorous quality assurance, R&D and global market opening.
In particular, it has been contributing to solidifying the country’s position as the ginseng pioneer as four functionalities of red ginseng, which are blood circulation improvement, memory improvement, antioxidant activity, and climacteric women health improvement, are recognized as Jung Kwan Jang’s technologies, among other benefits accepted by the Korea Ministry of Food and Drug Safety.
KGC R&D Center has published about 290 papers in academic journals in and out of the country, and owns about 200 technical patents and 15 protection rights for its exclusively cultivated species. In 2016, KGC’s analysis of ginsenoside received the world’s first accreditation from the Korea Laboratory Accreditation Scheme (KOLAS).
Jung Kwan Jang, which has been exporting about 250 products to about 40 countries, has topped the global ginseng retail market in sales for 10 consecutive years, according to global market research institution Euromonitor International. Euromonitor’s 2022 report shows the global ginseng retail market was USD2.47 billion last year, with Jung Kwan Jang solidifying its position as the no. 1 ginseng brand with a commanding 41.9% share.