Korea Ginseng Corp. Names An Bin as Its New Chief

Korea Ginseng Corporation, a leading ginseng manufacturer in South Korea, announced during the recent regular shareholders' meeting that it has appointed a new chief executive officer. KGC named An Bin the company's global business head and new leader.

An Bin's Over Two Decades of Service

According to The Korea Herald, Korea Ginseng Corp. declared the CEO appointment on Monday, April 1. An has been with the company since 2000 and has held various managerial posts throughout his tenure.

From 2020 to 2022, he was the chief of KT&G's cosmetics unit, Cosmocos, launched in 2016. He returned to the ginseng unit to lead the global operations in 2022. KT&G spun off its ginseng business in 2002 to form a wholly-owned subsidiary, which is now the Korea Ginseng Corporation (KGC).

"To transition into a global top-tier comprehensive health company, we must adopt a 'Global One Market' approach that combines both domestic and overseas markets," An Bin said after his appointment. "We will aim to maximize profits in overseas markets while at home we will take a new leap based on our franchise business and elevate profitability and shareholder values."

About Korea Ginseng Corp.

Korea Ginseng Corporation has been around for a long time. Its history dates back to the late 19th century and was initially established in 1899. In the mid-20th century, the company created and launched the Jung Kwan Jang, which became its flagship and representative red ginseng product. According to Korea News Plus, this brand is currently competing globally and has been gaining a lion's share in the international markets.

KGC continues to gain more customers and has already secured solid growth based on global market data in 2023. Records stated that the ginseng company also ranked first in the global market for 10 consecutive years until 2022.

Photo by: Korea Ginseng Corp. Website