CJ Cheiljedang is the first South Korean company to exceed 10 trillion won in food sales in 2022. The company has tried to gain a competitive edge in the global market and nurture Bibigo as a global brand. The brand has various food items including dumplings, kimchi, a traditional fermented vegetable dish, and Jeonbokjuk, a Korean-style porridge made with abalone. In 2022, Cheiljedang's overseas food sales surpassed 5 trillion won.
In a survey of about 10,000 people, conducted by Seoul City in 2020, Tteokbokki was picked as South Koreans' favorite comfort food, followed by fried chicken and Kimchi stew. The rice cake menu can be found everywhere in South Korea including local snack bars and food stalls on the side of streets. It is common to see young children eating a cup of red rice cakes after their school is over and adults eating Tteokbokki and Soju, Korea's iconic distilled liquor, after work.
CJ Cheiljedang said in a statement on that Tteokbokki would be released in June in the United States, Britain, France, Japan, and Vietnam. The company said the new product that would be displayed in cups and pouches. A cheese-flavored sauce-based Tteokbokki will be also included in the Bibigo brand. Starting in August, Cheiljedang will also showcase five new Bibigo products such as hot dogs and Gimmari, Korean-style fried seaweed rolls.
"From now on, we will try to popularize various types of Korean food culture in overseas markets such as the U.S. and Europe beyond Asia," an unnamed Cheiljedang official said in a statement on May 15. The company will promote Korean street food through KCON, an annual Korean culture convention for global fans. The festival was first held in October 2012, three months after the release of Psy's Gangnam Style.
Cheiljedang has strived to secure more global consumers. The South Korean company has acquired foreign companies including Kahiki Foods, an Ohio-based maker of packaged and frozen Asian foods, and Mainfrost of Germany. In May 2023, Cheiljedang unveiled its scheme to start a chef incubation project to nurture young Korean food experts. National culinary artists will be sponsored to compete in an international culinary competition set to be held on May 19 for three days.
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