KGC's ginseng extracts win Taiwanese hearts with actress Park Eun-bin

Korea Ginseng Corp. (KGC) is gaining traction with its new ginseng extract sticks in Taiwan where the aging population's interest in healthcare is on the rise, according to the health food producer, Friday.

Jung Kwan Jang, the company's signature label for ginseng extracts, launched Korean Red Ginseng Extract Everytime Yo in Taiwan last month. Agrapefruit extract was added to the product to appeal to female consumers in their 20s and 30s, according to the company.

To boost sales, the firm invited actress and the label's model Park Eun-bin to Taiwan for a fan meeting last Saturday. Park, the heroine in the Korean TV series "Castaway Diva," said the product has helped her build up preventive immunity and maintain general health while filming the series and doing other activities as a celebrity.

The company's expansion to the Taiwanese market targets the state's growing senior population. Those aged 65 and older accounted for over 17 percent in 2022 and, by 2025, one out of every five people is expected to be from the age group, according to the firm.

The demographic shift translates to a rising popularity of health products. Citing global market analyzer Euromonitor, the company said the healthcare food market in Taiwan was worth 92.4 billion in Taiwanese dollars ($2.9 billion) in 2022, a 4.4 percent year-on-year jump, and is expected to surpass 100 billion Taiwanese dollars by 2024. Almost 40 percent of the market consumers are aged 25 to 40, reflecting the age group's rising interest in health foods, according to the company.

"We have seen heated local interest in our product in Taiwan and has invited Park to respond to the consumers," said an official from the company that first exported Jung Kwan Jang to Taiwan in 2009.