Global small business showcase held at Jeju Local Startup Festa
Samun turns red ginseng byproduct into US-bound food ingredient
Demis wins minister's award for cosmetics exports
![Son So-hee, CEO of Samun (right), and Park Hyun-shin, CEO of Demis, pose for a photo at the global small business achievement showcase held as part of the 2026 Local Startup Festa in Jeju at the Sheraton Jeju Hotel on Friday. [Korea Small Business and Market Service]](https://wimg.heraldcorp.com/news/cms/2026/11/06/news-p.v1.20261106.95611fe269c0423c9f4afd58c8fafb2b_P1.jpg)
What was once discarded as waste from red ginseng production is now winning over American consumers. A local startup from Geumsan, South Chungcheong Province, has developed a new food ingredient from byproducts generated during red ginseng manufacturing and is pushing into the US market — part of a broader trend of small-town entrepreneurs taking differentiated products to the global stage.
The stories of small businesses that have successfully broken into overseas markets were shared Friday afternoon at the global small business achievement showcase, held as part of the 2026 Local Startup Festa in Jeju at the Sheraton Jeju Hotel.
Samun Co. took home the Ministry of SMEs and Startups minister's award in the Frontier category that day. The company developed a food ingredient called "Re-Insam" using hongsambaek — the fibrous residue left over after red ginseng is processed.
"More than 90 percent of the byproducts generated during red ginseng manufacturing are simply thrown away, yet they still contain useful compounds such as ginsenosides and dietary fiber," said Son So-hee, CEO of Samun. "We found a new business opportunity in resources that were being discarded."
Samun freeze-dries and micronizes the red ginseng residue to produce the food ingredient, which it has used to develop snacks and protein shakes. The company launched products targeting the US market, sold out its entire stock at a local pop-up event and has since entered American distribution channels.
"Achieving our first export to the United States is our most meaningful accomplishment," Son said. "Going forward, we plan to expand beyond finished-product sales and grow Re-Insam into a raw-ingredient business that supplies food companies around the world."
The minister's award in the Step-Up category went to Demis, a cosmetics manufacturer and retailer. Demis built a product strategy tailored to consumer preferences in each overseas market and expanded partnerships with foreign buyers to drive its export growth.
"The biggest challenge in going overseas was realizing that consumers in each country have different preferences and that market conditions vary widely," said Park Hyun-shin, CEO of Demis. "We plan to build a long-term export foundation centered on the United States and Europe."
The Ministry of SMEs and Startups' global small business development program identifies export-ready small businesses and provides them with education, mentoring and overseas market access support. Selected companies receive up to 100 million won ($74,500) in commercialization funding.
This year, 100 small businesses were selected for the program. At the Jakarta International Premium Consumer Goods Fair, 14 of them held 156 buyer consultations and are pursuing contracts worth approximately $2.7 million.
At a New York pop-up event, 15 companies generated on-site sales of $52,096, while 22 companies that participated in the World Korean Business Convention concluded 194 buyer consultations and signed six MOUs. The contracts currently in progress are valued at approximately 3.3 billion won.
Expanding overseas gives local small businesses a path to new growth beyond the constraints of the domestic market. As products that combine regional specialties with original technology gain recognition from consumers abroad, the prospects for local startups going global continue to grow.
boo@heraldcorp.com
