'Thicker Than Watered-Down Powdered Milk': The Mystery Billboard Fueling Seoul's Premium Ice Cream Wars [Food360]

"Milk makes Real Ice Cream."

A giant billboard has appeared in the heart of Gangnam-daero in Seoul. It belongs to Benson, a premium ice cream brand run by Better Scoop Creamery, a subsidiary of Hanwha Galleria. The sign also directs passersby to the Benson Gangnam Station store about 200 meters away. The tagline is widely read as a nod to the brand's use of domestically sourced Jersey cow milk, which carries a higher fat content than standard raw milk.

As it happens, a Baskin-Robbins store operates in the building right next to where the billboard stands. Baskin-Robbins runs roughly 1,740 stores nationwide, leads South Korea's premium ice cream market and is one of Benson's main rivals. On the other side of the billboard, a new Paul Bassett store is under construction. Paul Bassett, operated by Maeil Dairy affiliate M's Seed, has built its premium ice cream image around ingredients from the Sang Ha Farm brand. The new outlet — set to open in early July — will be the fourth Paul Bassett store along Gangnam-daero.

July will also bring the Korean debut of Van Leeuwen, a well-known American premium ice cream brand, which plans to open its first location near Gangnam Station. Founded in 2008 from an ice cream truck in Brooklyn, New York, Van Leeuwen now operates more than 100 stores across the United States. The brand has raised its profile through collaborations with pop stars including Sabrina Carpenter and Ed Sheeran.

Van Leeuwen is entering South Korea through a master franchise agreement with Twosome Place, with plans to open up to three stores in prime Seoul districts including Gangnam. Among established players, single-cup prices currently run 3,900 won ($2.80) at Baskin-Robbins, 4,300 won ($3.10) at Paul Bassett and 5,300 won ($3.80) at Benson. Van Leeuwen is expected to price its products higher still, given the elevated exchange rate and a recipe that uses more than twice the egg yolks of a standard ice cream.

The clustering of premium ice cream brands along Gangnam-daero reflects a broader trend in the food and beverage industry. Chinese milk tea chain Chagee opened a flagship store on the strip in April, and American Mexican food chain Chipotle is also preparing to open its first Korean location there. An industry official said stores on Gangnam-daero serve as billboards in their own right, drawing foot traffic from teenagers and office workers alike as well as a large number of foreign visitors.

Not every premium ice cream venture has thrived, however. Market leader Baskin-Robbins saw its first-quarter operating profit more than double year on year, driven by strong sales of its new Dubai-inspired product line. But Natuur, operated by Lotte Wellfood, pulled out of all offline directly managed stores this year, and Cold Stone Creamery, known for its rolled ice cream, closed its last Korean store in 2022.