Shinsegae Food Signs Business Agreement with Nonghyup to Revitalize Ginseng Farms

On the 17th, at the NongHyup Central Association in Chungjeong-ro, Jung-gu, Seoul, Song Hyun-seok, CEO of Shinsegae Food (right), and Ahn Ho-geun, Head of Product Support Division at NongHyup Economic Holdings (left), signed a business agreement to revitalize domestic ginseng farms. (Photo by Shinsegae Food)

[Asia Economy Reporter Lim Hye-seon] Shinsegae Food has stepped up to support domestic ginseng farms.

On the 17th, Shinsegae Food announced on the 18th that it signed a Memorandum of Understanding (MOU) with NongHyup Economic Holdings at the NongHyup Central Association located in Chungjeong-ro, Jung-gu, Seoul, to revitalize domestic ginseng farms and that both parties agreed to establish a strategic cooperative relationship.

At the MOU signing ceremony, attended by 15 people including Shinsegae Food CEO Song Hyun-seok and NongHyup Economic Holdings Head of Product Support Division Ahn Ho-geun, measures to expand the consumption of ginseng, which has been struggling due to prolonged COVID-19-related consumption downturns, were discussed. Among them, Shinsegae Food decided to activate the consumption of domestic ginseng through its key business of contract catering services, developing menus using ginseng and providing special menus at over 300 contract catering sites nationwide.

Accordingly, Shinsegae Food held a “Ginseng Menu Provision Event” offering special dishes such as “Ginseng Tempura” and “Ginseng Jeyuk Bokkeum” (stir-fried pork with ginseng), combining ginseng harvested from excellent production areas with recipes by Shinsegae Food chefs at major contract catering sites nationwide.

Furthermore, Shinsegae Food plans to continue developing recipes and ready-to-eat meals using ginseng to apply them across various businesses including contract catering, food manufacturing, and dining out. Along with this, Shinsegae Food intends to leverage its global network to supply ginseng worldwide, promoting the excellence of Korean agricultural products and expanding consumption.

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