Korea Ginseng Corp., the leading ginseng product manufacturer in the country, announced on Thursday its plans to introduce its flagship health functional food products to Guardian and Watsons, the top health and beauty stores in Malaysia, as part of efforts to expand its presence in Southeast Asia.
This initiative follows a recent increase in health awareness in Malaysia, a significant economic player in the region, which has led to growth in the health-functional food market from 1.5 trillion won ($1.09 billion) in 2018 to an estimated 2.4 trillion won in 2024, the company said.
KGC started introducing its flagship products, including Korean Red Ginseng Extract Everytime and Hong Sam Won Good Base, to Guardian, which operates 600 outlets across the country, in January. For Watsons, which runs 700 outlets, the company will begin introducing its products in July with the contract finalized.
These efforts add to the company’s recent marketing campaigns in Malaysia. From June 3 to Sunday, KGC held a promotional event at Suria KLCC, Malaysia’s iconic six-story shopping mall in the capital, Kuala Lumpur, offering sample drinks to visitors to boost brand awareness among local consumers.
KGC said that the company has also introduced its products at local shopping malls and department stores in Singapore and Vietnam, citing Southeast Asian countries as their target markets for expansion. Additionally, it was recognized in Vietnam as the best brand for Korean health functional products in 2023.
"Around the world, interest in health is on the rise, leading to steady growth in the health functional food market," a KGC official said. "We plan to continue raising awareness of our leading health functional food brand, JungKwanJang, among local consumers in Malaysia, a key market in the ASEAN region, through engagement with various local distribution channels."
