People line up outside Sungsimdang bakery in the Eunhaeng-dong neighborhood of central Daejeon to buy bread on Jan. 30, the final day of the Lunar New Year holiday. / Shin Hyun-jong

Sungsimdang, a beloved regional bakery based in Daejeon, South Korea, has defied expectations once again—surpassing major national chains in profits last year despite operating just 16 locations.

According to the Financial Supervisory Service, the bakery posted 193.76 billion won ($132.7 million) in revenue last year, a 56% jump from $85.1 million in 2022. Operating profit climbed to $32.7 million, up 50% from $21.5 million over the same period.

Sungsimdang has been on a steep growth curve in recent years. Its revenue rose from $33.4 million in 2020 to $43 million in 2021, then to $55.9 million in 2022.

In 2023, it crossed the $68.5 million threshold for the first time, recording $85.1 million in annual sales—unprecedented for a single-brand bakery not part of a franchise.

The company’s operating profit also surged, doubling from $10.5 million in 2022 to $21.5 million in 2023, allowing Sungsimdang to outperform CJ Foodville—the operator of the Tous Les Jours franchise—for the first time.

CJ Foodville recorded $14.6 million in operating profit in 2022, and $20.4 million last year. Despite having over 1,300 Tous Les Jours locations nationwide, the franchise fell behind Sungsimdang in operating earnings for the second consecutive year.

Sungsimdang’s 2.5-kilogram Fruit Shiru cake and the Mango Shiru, which sold out quickly during last summer’s buying frenzy. /Sungsimdang

Founded in 1956, Sungsimdang gained national recognition in 2012 when it opened a branch inside Daejeon Station, attracting travelers eager to take home its signature items like the fried soboro bread and more. The brand gained further prominence in 2014 when Pope Francis, during his visit to S. Korea, had its ciabatta and baguette for breakfast.

Komsco and Daejeon-based bakery Sungsimdang plan to release their co-branded “Liberation Bread” twice this year to mark the 80th anniversary of Korea’s liberation—once on March 1 and again on Aug. 15. Part of the proceeds will be donated to support job creation and boost the local economy. / Yonhap News

Recently, Sungsimdang has drawn waves of customers with its affordable seasonal cakes like the “Strawberry Shiru” and “Mango Shiru.” These cakes, packed with layers of fresh fruit and priced under $40, have prompted early-morning lines and “open run” frenzies—offering an accessible alternative to high-end hotel Christmas cakes that often cost upwards of $150 to $220.

Despite the buzz, Sungsimdang has firmly upheld its policy of staying local, refusing to expand beyond Daejeon. The company operates under a strict “bake today, sell today” philosophy. All unsold goods are donated at the end of the day, further cementing its image as a bakery committed to quality and community.