S Korea firms to set up ginseng base in Jilin

Yanbian (CNS) -- The Changbai Moutain area in Jilin Province is the world's largest ginseng production base with an output value of 13.3 billion yuan in 2011. The emerging industry has attracted a leading South Korean company "Korea Tobacco & Ginseng" (KTG).

KTG planned to invest one billion yuan to establish a base in Jilin Province. KTG is a key competitor with domestic ginseng operators, and its move attracted local attention.

According to data from the local authority, ginseng exports from Jilin are 20 times that of South Korea, but the former's export volume is only one twentieth of the latter's.

Potential for a win-win is obvious, said Zhang Hui, a local official. He said KTG values the land, human resources and vast market here, and on the other side there is a good chance for domestic enterprises to learn from their Asian counterparts about ginseng cultivation, processing technology and so on.

The major consumers of ginseng are scattered throughout Southeast Asia, Taiwan, Hong Kong and other regions. Companies in these areas see business opportunities in ginseng consumption. Besides KTG from South Korea, firms from Japan and Taiwan have also begun to develop ginseng products in Jilin Province.