Korea Ginseng Corp. to attend global duty free show in Singapore
Korea Ginseng Corp. will participate in this year’s TFWA World Exhibition & Conference in Singapore for the second year in a row with aims to promote its ginseng-based health care products in the global market, the company said Tuesday.
The Tax Free World Association, or TFWA, is the largest association in international duty free and travel retail. It hosts the global conference twice a year, once in Singapore and once in Cannes, France.
The five-day event kicked off Sunday, with some 300 companies exhibiting roughly 3,000 premium products. It is part of the ginseng product manufacturer’s efforts to expand into the global market.
KGC will display products under the Cheong Kwan Jang Plus series exclusively designed for overseas duty-free stores. Cheong Kwan Jang is the company’s signature brand that ranks top in sales in the ginseng health care industry here.
“It is meaningful in that KGC is actively paving the (way for the) health functional foods category in the global duty-free market that is otherwise mainly composed of luxury fashion, watch and jewelry brands,” the company said.
“We hope to bolster business with global duty-free and travel retail companies at the conference, and expand (our) presence not only in the Asia-Pacific region but also worldwide.”
Seeking to introduce its ginseng products in a more familiar manner, KGC will host a ginseng cocktail party for related officials, it added.
Global duty-free and travel retail sales reached $68.6 billion, up 8.1 percent on-year in 2017, according to preliminary figures from duty-free and travel retail researcher Generation Research.