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Daejeon bakery Sungsimdang beats major franchises with record sales in 2024

Published: 06 Apr. 2025, 15:09

Customers wait in line to buy bread at Sungsimdang in Daejeon on Oct. 22, 2024. [JOONGANG ILBO]

Sungsimdang, a well-known bakery in Daejeon, posted record-high sales in 2024, outpacing major franchise competitors in operating profit for the second year in a row.

The company has maintained a steady growth trajectory, cementing its status as a must-visit place in Daejeon.

According to a recent audit report submitted to the Financial Supervisory Service, Sungsimdang's operator Rosso recorded annual sales of 193.7 billion won ($144.6 million) in 2024. This marks a 56 percent increase from the previous year's 124.3 billion won.

The bakery had already broken the 100 billion won mark in 2022, with revenue climbing 52 percent on year. If this trend continues, analysts project the bakery’s sales will easily surpass 200 billion won in 2025.

Operating profit also surged, rising 52 percent to 47.8 billion won in 2024 from 31.4 billion won the previous year.

In comparison, CJ Foodville — operator of the bakery chain Tous Les Jours — posted an operating profit of 29.86 billion won during the same period.

The profit gap between the two companies, which stood at around 10 billion won in 2023, widened to nearly 18 billion won in 2024.

What makes Sungsimdang's performance more remarkable is its relatively small footprint. The company runs only 16 stores, all within Daejeon.

CJ Foodville, by contrast, operates approximately 1,300 locations across multiple brands, including VIPS, The Place and Jeil Jemyeonso.

Founded in 1956 as a steamed bun shop near Daejeon Station, Sungsimdang has grown into a symbol of the city.

The company adheres to a strict policy of not expanding outside the region, a strategy that has helped reinforce its identity and brand. This commitment has made Sungsimdang a top destination for “bread pilgrimage” tourists — those who travel to visit famous bakeries.

The bakery’s seasonal “Siru” cakes, layered with generous amounts of fruit such as strawberries, figs and mangoes, have fueled its popularity nationwide.

These cakes are known for containing more fruit than bread or cream, yet are priced relatively affordably. Customers often line up before dawn to purchase them, and the product has been praised for its hotel-level quality.

Beyond its commercial success, Sungsimdang has also been recognized as a cultural landmark.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.

BY LEE HAY-JUNE [[email protected]]