Sales of red ginseng jump on Chinese tourists’ buying spree
Published : 2014-05-02 21:09
Updated : 2014-05-02 21:09
Sales of red ginseng products more than doubled in late April from a year ago as Chinese shoppers went on a buying spree of the medicinal plant at duty free shops and department stores, the ginseng agency said Friday.
Korea Ginseng Corp. said sales of its red ginseng products, including its flagship brand Junggwanjang, rose more than 60 percent to 13.7 billion won ($13.3 million) from April 25-29 compared with 8.3 billion won the same period of last year.
Officials said the agency was banking on an influx of Chinese travelers during their May 1-3 Labor Day holidays to keep the sales on a boost.
Much of the increase last month came from the more than 50 percent gain in sales at duty free shops and department stores by Chinese shoppers who purchased the high-priced root plants, whose cost ranges from 300,000 won to 6 million won, the ginseng agency said.
Sales of red ginseng products by Chinese tourists rose more than threefold during the same period, it added. (Yonhap)