We developed high-quality Korean pepper (Capsicum annuum L.) varieties to compete with imported chili peppers from China. The ‘OH95’ line, which was introduced from Hungary in 1997, was self-pollinated, and the resulting ‘62067L2’ was selected as a pigment-rich maternal line in 2003. However, RSS and LV2319, both developed in 1993, were cross-bred, after which the paternal line ‘62027R3’ was developed by consecutive selections and generation advancement. After the cross combinations were performed, their horticultural characteristics were evaluated for two years, and subsequently, regional adaptation trials were conducted for at three different sites over three years. Of these, a new pepper variety, ‘Jeockyoung’ exhibited an average ASTA value of 175, representing pigment content, which was approximately 43% higher than that of a commercial cultivar ‘Manitta’. In addition, the capsaicinoid content of ‘Jeockyoung’ was 114.4±11.6 mg/100 g, which was slightly higher than that (86.3±2.8 mg/100 g) of the control cultivar. Moreover, regional adaptation trials revealed that the new variety showed regional differences in annual yield; however, the yield was approximately 18% higher than that of the commercial cultivar. Fruit weight, length, and diameter of the new variety were approximately 21.8 g, 14.3 cm, and 2.2 cm, respectively. The flowering period was approximately 101 days after sowing, which was similar to that of the control cultivar. In addition, leaf length and plant height were also not different from those of the control cultivar.