• The Journal of Korean Medicine
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• v.28 no.3 s.71
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• pp.100-107
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• 2007

Objective : To build a basis of a research strategy for development of Korean ginseng as a global competitive medical product in the world market by Korean Oriental medicine group. Methods : Survey of all literature or analysis reports about market patterns related to ginseng or ginseng products in Korea and in other countries. Results : Korean ginseng and it products have rapidly decreased in share of the world market since the 1980s, with Korean ginseng occupying just 3% of the Hong Kong ginseng market in 2005. While Korean ginseng has been satisfied with consumption within the large Korean market itself, it now has only 1% of world market share. Conclusion : A systematic strategy is needed to strengthen global competitiveness of Korean ginseng based upon development of novel customer-tailored ginseng products. In addition, experience and science-based research in the Oriental medicine field should be involved in the process.

• Journal of Ginseng Research
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• v.37 no.1
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• pp.1-7
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• 2013

Ginseng is being distributed in 35 countries around the world and there are differences by each country in the distribution volume and amount. However, since there is no accurate statistics on production and distribution amount by each country, it is very difficult to predict the world ginseng market. Ginseng trading companies and governments are in desperate need of comprehensive data that shows the world ginseng market status for sales and marketing. For that reason, this study will look into the approximate size of the world ginseng market based on recent ginseng distribution amount by each country and production by major ginseng producing nations. In addition, the review sets an opportunity to check the status of ginseng (Korea) in the world and presents future direction by examining recent history of ginseng development in Korea, which is one of the world's largest ginseng distributers. Since ginseng is cultivated in limited areas due to its growth characteristics, ginseng distributing countries can be divided based on whether they grow it domestically or not. In general, four countries including South Korea, China, Canada, and the US are the biggest producers and their total production of fresh ginseng is approximately 79,769 tons which is more than 99% of 80,080 tons, the total ginseng production around the world. Ginseng is distributed to different countries in various forms such as fresh ginseng, dried ginseng, boiled and dried ginseng (Taekuksam), red ginseng and the related products, etc. and is consumed as food, dietary supplements, functional food, medical supplies, etc. Also, the world ginseng market including ginseng root and the processed products, is estimated to be worth $2,084 million. In particular, the size of the Korean market is $1,140 million which makes Korea the largest distributer in the world. Since the interests in alternative medicine and healthy food is increasing globally, the consumer market of ginseng with many features and the processed products are expected to expand continuously.

• Journal of Ginseng Culture
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• v.4
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• pp.1-12
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• 2022

Ginseng and ginseng products are distributed in approximately 190 countries around the world. The size of the ginseng market varies by country and there are no accurate statistics on production and distribution amounts per country. Therefore, it is difficult to make predictions about the global ginseng market. Governments and ginseng trading companies are in need of comprehensive data that shows the current status of the ginseng market to help them establish effective import, export, and sales and marketing policies. To addressthis need, this study examines the approximate size of the world ginseng market based on estimates of recent quantities of ginseng distributed in specific country as well as production by major ginseng producing countries. In 2018, global ginseng production was about 86,223 tons based on fresh ginseng. China produced 50,164 tons, South Korea 23,265 tons, Canada 11,367 tons, the US 1,285 tons, Japan 30 tons, and other countries a combined 112 tons. The value of global ginseng production is estimated to be approximately $5,900 million, with $2,870 million (48.6%) in China, $2,489 million (42.2%) in South Korea, $478 million (8.1%) in Canada, $54 million (0.9%) in the USA, $4 million (0.1%) in Japan, and $5 million (0.1%) in other countries. The value of ginseng products consumed for the last five yearsin South Korea was $1,162 million in 2014, $1,280 million in 2015, $1,548 million in 2016, $1,638 million in 2017, and $1,762 million in 2018, showing that the market has been increasing in recent years. In particular, the Korea Ginseng Corporation (KGC), the biggest global ginseng company in South Korea, recorded sales of $1,207 million in 2018. This represents about 69% of the South Korean ginseng market, and about 20% of global production. Since interest in alternative medicine and health food among consumers is increasing globally, the market for ginseng is expected to expand into the future.

• Asia Marketing Journal
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• v.20 no.2
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• pp.85-98
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• 2018

Korea Ginseng Corporation is a global ginseng company, owning one of the most leading brands in Korea, CheongKwanJang. Although Korea Ginseng Corporation was an undoubted market leader in the red ginseng market, it faced a new challenge in 2012 due to the changes in market environment. In order to keep its market leadership in a saturated and competitive market, the company decided to extend its product lines alongside the launches of new brands. In this article, the authors demonstrate the development process of the company's brand portfolio strategy to reveal how the company turned CheongKwanJang into a mega-brand. Also, this paper explores the impact of CheongKwanJang's reputation on new brands, thereby illustrating how the company successfully managed to introduce new products outside of the red ginseng category, ranging from organic food to a pet food market.

• Journal of Ginseng Research
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• v.29 no.3
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• pp.152-158
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• 2005

For several thousand years, Korea ginseng has been used as medicinal herb in the oriental countries. Korea is the ginseng suzerain and, for that reason, tile ginseng as a special crop In Korea has been exported to the World market since the era of the three Kingdoms. However, recently, the intermational market share of Korea ginseng products has been significantly reduced due to the mass production of ginseng from China and Canada. Besides, America with aggressive marketing strategy take the leadership in the international ginseng market. Therefore, it is necessary for Korea to know and understand world ginseng market mood and situation. The object of this study is to identify the actual consumption conditions and consumer perception of ginseng at the major consumptive countries in tile world. The findings of this study mean that the consumer behavior and perception of ginseng is difficult depending on country. At the result, it is expected that this study will be used to apply ginseng in various fields.

• Journal of Ginseng Research
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• v.20 no.4
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• pp.501-519
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• 1996

There are two kinds of commercially available ginseng root, red ginseng and white ginseng processed from fresh ginseng root Those ginsengs are primary product from fresh ginseng root and have the characteristic of keeping their original root shape Processed ginseng products are made from either red ginseng or white ginseng by way of complicated process of pulverization. Extraction. Condensation, fettering, sterilization, etc. Among them there are extracts. extract powder, powder, capsules tablets, Candy, drinks, nectar, jelly, gums. chicken soup. tonic. etc. to meet the demand for consumer's pretheronce . The 200 kinds of processed secondary products are approximately produced in the form of 20 kinds of ginseng products by about 60 domestic companies. In spite of about 213.000 million won of domestic market in 1993. it seems like that the ginseng market of the future has not a good prospects The total market sale of white ginseng in Korea has been continuously decreased since 1991 And 963 tons of white ginseng was consumed in domestic market in 1993 The domestic market sales of white ginseng in origina1 root shave. was 90, 000 million won in 1993 and market price of the fine root used as a source of processed products has not been changed in these ten years. The total market sale of red ginseng and its processed products was 58, 000 million won in 1993 9.800 mi11ion won of red ginseng in original root shape and 48.000mi11ion of processed red ginseng product. Ginseng products such as extracts, drinks, teas and tonics etc atre mostly exported to south-east Asia. And the total exports of ginseng pi.oducts (extracts, drinks teas) decreased to 54 million dollars in 1994, compared with 85 million dollars in 1992. Despite of extensive knowledge about ginseng little is still known about the development of new processed ginseng pl.oducts because of "Know-How". Some papars have presented the effects of extracting method(amounts of solvent. time. temperature, equipment. etc.) on the quality and yields of ginseng extr acts. Also. some researchers have carried out a few studies on the poriflcation of the extracts and the amounts of precipitation in the drink at variotas pH during the storage for preventinly drink from precipitation. A fell studies on the preservation of Korean ginseng powder. tea. Extract powder by irradiation and ozone treatment have been reported by some researcher for the improvement hygienic quality of ginseng products There are also some reports about the effects of ginseng components on the acid production by lactic acid bacteria or acetic acid bacteria. and alcohol production by yeast for the development of new ginseng products processed by fermentation. To make ginseng more able to contribute to the health of mankind in the future. consistent and considerable efforts should be focussed on improving the taste of ginseng and developing various new product as a health food or a function food.tion food.

• Journal of Ginseng Research
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• v.15 no.3
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• pp.205-215
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• 1991

The current size, characteristics. and channels of distribution of the offshore export (non North American) market for ginseng products are described. The apparent size of the worlds export market for ginseng products in 1987 is 3,363 tonnes. The major export markets for ginseng are Hong Kong (1,972.4 tonnes) and Japan (540.9 tonnes). The volume of ginseng imported into Hong Kong has doubled over the past five years from 976.3 tonnes in 1983 to 1,972.4 tonnes in 1987. This increase is reflective of an expanding Chinese market. In terms of products forms, the toast majority of ginseng imported into China is in root form, while Japan imports both red and white ginseng as well as ginseng beverages and medical products. Hong Kong is the destination of over 86f; of the volume of North American ginseng exported between 1983 and 1987. North American ginseng products are distributed by ginseng brokers or importers/exporters.

• Journal of Ginseng Research
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• v.30 no.3
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• pp.165-171
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• 2006

For several thousand years, Korean ginseng has been used as a medicinal herb in the oriental countries. Korea is the ginseng suzerain and, for that reason, the ginseng as a special crop in Korea has been exported to the world market since the era of the three Kingdoms. Hong Kong is the pivot of ginseng import from all of the world. In 1970s, Korea ginseng had a high market share (about 30%) in Hong Kong. However, recently, the market share of Korean ginseng in Hong Kong has been significantly reduced due to the mass production from China and Canada. Besides, America with aggressive marketing strategy takes the leadership in the international ginseng market in Hong Kong. Therefore, it is necessary for Korea to know and understand world ginseng market condition and situation in Hong Kong. The objective of this study is to identify the actual import situation at international ginseng market in Hong Kong. This study analyzed the ginseng import demand model which effected by several price variables from major importing countries at the international ginseng market in Hong Kong. The findings of this study show that the import price of Korean ginseng has an effect on the quantity of ginseng imported from other countries in Hong Kong. In addition, the quantity of ginseng imported from Korea in Hong Kong is influenced by the import price of ginseng from other countries. In conclusion, Korean ginseng plays an important role at the international ginseng market in Hong Kong.

• Korean Journal of Organic Agriculture
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• v.19 no.spc
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• pp.35-38
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• 2011

In order to cope with change of Korean and global consumption trend, it is forecast that GAP cultivated ginseng & its processed products, Organic cultivated ginseng & its processed products, Sanyangsam & its processed products as well as existing white ginseng (products), red ginseng (products), Taekuksam (products), black ginseng (products) will enter into market and customer demands will create new consumption. Eventually, it is considered that the time has come for considering and carrying out together for raw material cultivation and production, research and development of processed products and export and distribution of domestic and overseas market.

• Journal of Ginseng Research
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• v.30 no.3
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• pp.158-164
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• 2006

The American ginseng is getting popular in the world market with cooling effects. This paper study history of the cooling effect of American ginseng. Most references include one's assertion on the cooling effect of American ginseng based on the old chinese believe. However, American ginseng was discovered in 1716 and export to China from mid 18 century. Concerning on the time period for clinical demonstration to get people's believe, it is not sufficient to conform the cooling effects of American ginseng. That is why the American ginseng was sold as an inferior goods compare oriental ginseng until mid 1970s. United State FDA also does not certify any effectiveness of Ginseng yet. However, it is important to study on the American ginseng because of rapid growth in the world ginseng market.