Founded in December 2000, Cholocwon Co., Ltd. specializes in liquid tea products, starting with citron, jujube and ginger teas. Over time, the company expanded its product range to include teas made from native Korean fruits such as Hallabong, cheonggyul (young citrus), tangerine, plum, and quince. After its first export of USD 250,000 in 2011, Cholocwon increased its export revenue to USD 1.5 million in 2013, USD 1.6 million in 2014, and USD 2 million in 2015. Today, Cholocwon exports to many countries, including the United States, Taiwan, China, Japan, Vietnam, Singapore, Australia, France, and Italy. The company’s workforce has grown from 10 employees to nearly 30, with export revenue approaching USD 3 million. In 2012, Cholocwon obtained ISO 22000 certification and increased its production capacity from 6,000 to 40,000 bottles per day. The company has also obtained FSSC 22000, HACCP and organic processing certifications. Cholocwon’s flagship products include Organic Plum Tea, Honey Jujube Tea, Honey Ginger Tea, Honey Citron Tea, and Honey Quince Tea. Through its online shopping platform, customers can purchase not only its core liquid teas, but also a wide range of powdered and infusible teas. The company offers over 20 types of liquid teas, nine types of powdered teas, two types of infusible teas, as well as extracts and jams. Cholocwon’s liquid teas are made with local ingredients such as citron, quince, jujube and ginger. The selection includes Honey Citron Tea, Honey Jujube Tea, Honey Quince Tea, Honey Ginger Tea, Premium Citron Tea, Honey Grapefruit Tea, Honey Lemon Tea, Jeju Cheonggyul Tea, Jeju Hallabong Tea, Citron and Tangerine Blend, Citron Passion Fruit, Hibiscus and Citron, Mint and Citron, Ginger and Lemon, Jeju Tangerine Tea, Honey Jujube Tea S, Grapefruit Black Tea, Orange Black Tea, and Premium Hallabong Tea. These honey- and fruit-infused teas can be enjoyed hot in winter or chilled in summer. Cholocwon’s powdered tea lineup includes products such as Ginger Han Tea (15 packs), Goryeo Walnut Almond Adlay Tea (15 and 50 packs), Corn Flakes Sweet Pumpkin Tea (40 packs), Ginger Tea (15 packs), Corn Flake Cheonma Tea (40 and 90 packs), Ssanghwa Tea Gold (40 packs) and Ginger Tea Gold (40 packs). The infusible tea range includes Green Tea Jungjak (80g) and Green Tea Jakseol (80g), which blend healthy grains and nuts to introduce traditional tea flavors to modern consumers, in particular, those accustomed to coffee. Cholocwon’s extracts include Omija Extract, Plum Extract, Premium Omija Extract, Organic Plum Extract, Oriental Raisin Red Ginseng Tea, Balloon Flower Tea, Ssanghwa Tea, Omija Extract S, and several more, totaling eight varieties. These extracts dissolve well in cold water, making them especially popular as refreshing summer drinks.

As of November 2023, the number of cafés in South Korea has surpassed 100,000, nearly doubling since 2018. Starbucks, the market leader by revenue, has expanded significantly, with the number of stores increasing 3.7 times over the past decade, from 467 locations in 2012 to 1,750 by the fourth quarter of 2022. South Korea ranks fourth in the world in terms of the number of Starbucks stores, behind the United States, China and Canada. In 2022, Starbucks reported approximately 2.6 trillion won in revenue, becoming the first coffee chain in the country to surpass the 1 trillion won revenue milestone. Overall, the revenue of domestic coffee specialty stores reached approximately 2.6184 trillion won in 2022. However, by the end of the third quarter of 2023, revenue had fallen to around 1.95 trillion won, a decrease of 200 billion won from the same period a year earlier. The coffee market size in South Korea was KRW 2.7179 trillion in 2020 and grew to KRW 3.1168 trillion in 2021, representing an annual growth rate of 6.6% between 2018 and 2021. This growth trend continued in 2022, reaching approximately KRW 3.1717 trillion. That year, the breakdown of the coffee market was as follows: 35.6% liquid coffee, 32.6% roasted coffee, 24.8% prepared coffee, and 7% instant coffee. The total coffee market in South Korea is estimated to grow from KRW 6 trillion in 2021 to KRW 8.6 trillion in 2022. By 2018, South Korea had already become one of the largest coffee markets in the world, ranking third in green bean consumption after the United States and China. In 2021, South Korea’s beverage market was valued at approximately 9.58 trillion won, with coffee accounting for 32.52% of the total, far outpacing carbonated beverages with a 23.96% share. A consumer survey conducted in May 2022 revealed that 45% of respondents cited coffee as their most frequently consumed beverage, three times more than carbonated beverages (14%) and four times more than milk (11%). Daily coffee consumption in South Korea is typically between 2 and 3 cups for 47.7% of respondents, with 87.8% reporting that they drink at least one cup daily. In 2023, annual per-capita coffee consumption reached 405 cups, more than double the global average of 152 cups and 1.3 times the U.S. average of 318 cups. Many Koreans drink coffee out of habit (56.1%), and this tendency is more pronounced among older people. The continued growth of the domestic coffee market has also driven Korean coffee companies to expand internationally. One notable example is Korean Macnulty Co., Ltd., the leader in the South Korean roasted coffee market. Macnulty sources green beans from more than 30 coffee-producing countries on three continents and exports roasted beans and prepared coffee products worldwide. Korea’s coffee export has steadily increased, from USD 175.79 million in 2018 to USD 233.1 million in 2023. Major export destinations for Korean coffee include Hong Kong, the United States, Taiwan, Mongolia, Malaysia, Israel, China, Australia, Russia, Canada, South Africa, and Japan.