Last year, Sungsimdang, a renowned bakery in Daejeon, recorded its highest sales ever. Although it is a local business with over 10 branches nationwide, it generated more profit than larger franchise bakeries.
According to the Financial Supervisory Service on the 5th, Sungsimdang's sales last year reached 193.76 billion won, a 56% increase compared to the previous year (124.3 billion won). During the same period, its operating profit was 47.8 billion won, a 50% increase from the previous year (31.5 billion won).
Sungsimdang's revenue surpassed 100 billion won starting in 2023. The sales, which were 48.8 billion won in 2020, increased to 62.8 billion won in 2021, 81.7 billion won in 2022, and 124.3 billion won in 2023. Sungsimdang is the first single bakery, not a large franchise, to exceed 100 billion won in sales.
Operating profit also increased from 15.4 billion won in 2022 to 31.5 billion won in 2023. For the first time, it surpassed CJ Foodville, the operator of Tous les Jours (21.4 billion won) in the same year. Last year, CJ Foodville's operating profit was 29.86 billion won, widening the gap with Sungsimdang (47.8 billion won).
Sungsimdang opened in 1956 and established a branch at Daejeon Station in 2012. It gained fame with items such as 'fried soboro' and 'pantalong chive bread', rising to prominence as a national bakery. In particular, it gained attention when Sungsimdang's baguette and ciabatta were served at breakfast for Pope Francis during his visit to Korea in 2014.
It is also well known for its exceptional quality relative to price. Consumers wanting to purchase seasonal limited cakes such as 'strawberry siru' and 'mango siru' sometimes line up from early morning. While the average price of Christmas cakes at famous hotels is around 200,000 won, Sungsimdang's cakes are sold for less than 50,000 won, featuring a large amount of fruits and other ingredients.
Sungsimdang has not opened branches outside Daejeon. As of the end of last year, the number of Sungsimdang stores in Daejeon was 16.