A Rebellion of Local Bakeries… 'Seongsimdang' Surpasses 193.7 Billion Won in Sales Last Year

Seongsimdang, a representative bakery in Daejeon, recorded its highest-ever sales last year, achieving higher operating profits than the large franchise brand Tous Les Jours for the second consecutive year.

According to a disclosure by the Financial Supervisory Service on the 5th, Seongsimdang's sales in 2023 reached 193.76 billion won, a 56% increase compared to the previous year (124.3 billion won). In the same period, operating profit also rose to 47.8 billion won, a 50% increase from the previous year (31.5 billion won).

Seongsimdang's sales growth has shown a steep upward trend in recent years. Sales that were merely 48.8 billion won in 2020 surged to 62.8 billion won in 2021, 81.7 billion won in 2022, and surpassed 124.3 billion won in 2023, marking its first annual sales of over 100 billion won.

In terms of operating profit, Seongsimdang has outshined the franchise industry. It increased its operating profit from 15.4 billion won in 2022 to 31.5 billion won in 2023, first surpassing CJ Foodville, which operates Tous Les Jours, at 21.4 billion won.

Last year, CJ Foodville's operating profit was 29.86 billion won, widening the profit gap even further for Seongsimdang. As of the end of last year, Seongsimdang had 16 stores, while Tous Les Jours had over 1,300 locations.

Starting in Daejeon in 1956, Seongsimdang has grown while maintaining a long-standing local base. Following the opening of its branch at Daejeon Station in 2012, it transformed into a "national bakery," with its signature products, ‘fried soboro’ and ‘pantaloon chive bread,’ becoming essential items among tourists.

Subsequently, during Pope Francis's visit to Korea in 2014, Seongsimdang's ciabatta and baguette were served for breakfast, further enhancing brand awareness.

Recently, seasonal limited cakes such as ‘strawberry siro’ and ‘mango siro,’ filled with fresh seasonal fruits, have gained immense popularity, leading to a phenomenon known as 'open run,' where customers line up even before opening. These products are praised for their high-quality comparable to that of luxury hotels, offered at prices below 50,000 won.

Seongsimdang adheres to a principle of not opening stores outside Daejeon and is known for its ‘same-day production and sales’ policy, donating any unsold bread after sales.

This operational philosophy and local identity have transformed Seongsimdang into a cultural landmark rather than just a bakery. It has been selected by the Ministry of Culture, Sports and Tourism for the 'Local 100' and has received the 'Regional Culture Award,' only given to three establishments among them.

Image source: Seongsimdang Daejeon Station / News1, Instagram 'sungsimdang_cakebouique', photo=Insight