FOR IMMEDIATE RELEASE
September 18, 2018
Contact: Amy Hasenberg, (608) 266-2839
WAUSAU – Governor Scott Walker today joined Foxconn Health Technology Business Group (Foxconn) officials and members of the Ginseng Board of Wisconsin to celebrate the new strategic agreements for Foxconn to purchase Wisconsin-grown American ginseng. The partnership will help grow Wisconsin’s ginseng industry by: continuing to sell ginseng globally, creating innovative ways to farm ginseng, marketing ginseng as a health supplement, and creating an opportunity for the University of Wisconsin- Madison and the UW Carbone Cancer Center to engage in research surrounding the health benefits of ginseng.
“The Foxconn Bonus continues as Foxconn is entering into a strategic partnership to buy Wisconsin ginseng and invest in innovative technology for our state’s ginseng farms,” said Governor Walker. “Ginseng is a key part of our state’s history and economy, and because of this investment we will continue to see the growth of Wisconsin ginseng around the world.”
The new partnership includes three agreements in which Foxconn will purchase Wisconsin ginseng from Hsu’s Ginseng Enterprises and members of the Ginseng Board of Wisconsin—this purchase will help develop Foxconn’s newly-established Ginseng brand, Hong Seng; Foxconn Health Technology Group and Hsu’s Ginseng Enterprises agree to work together on the latest technology and farming methods to grow quality ginseng and market it as an effective health supplement; and an arrangement between Foxconn Technology Group and Hopu Investment Management Company to help sell and distribute Wisconsin-grown Hong Seng American Ginseng worldwide.
Foxconn will also engage in research with UW-Madison and UW Carbone Cancer Center surrounding the health benefits of ginseng in cancer treatment.
Wisconsin ginseng accounts for 90-95% of all American produced ginseng with Marathon County serving as the top ginseng producer in the state.