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From Proceeding of the Mini Workshop Southeast Asia Germany Alumni Network (SEAG):

"... the Korean ginseng (Panax schinsen) has been well known as a tonic, treatment for Diabetes Mellitus, effective to develop energy, sex ability, to cure eyes and hearing to develop brain efficiency and to long life..."

Is that a local myth or a well-established scientific fact?

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There is no proof that ginseng has any effect on cognitive faculties, so it's not an established fact at all:

Currently, there is a lack of convincing evidence to show a cognitive enhancing effect of Panax ginseng in healthy participants and no high quality evidence about its efficacy in patients with dementia. Randomized, double-blind, placebo-controlled, parallel group trials with large sample sizes are needed to further investigate the effect of ginseng on cognition in different populations, including dementia patients.

Geng J, Dong J, Ni H, Lee MS, Wu T, Jiang K, Wang G, Zhou AL, Malouf R. Ginseng for cognition. Cochrane Database of Systematic Reviews 2010, Issue 12. Art. No.: CD007769. DOI: 10.1002/14651858.CD007769.pub2

In the review (i.e. a collation of all the scientific results known so far), the author identifies some possible effects, but not enough scientific evidence to claim them as fact.

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