[Featured Stock] Miraesaengmyeongjawon, Coupang Pet Industry Partner... Full-Scale Entry into 3 Trillion Market

[Asia Economy Reporter Hyungsoo Park] Mirae Life Resources is showing strong performance. Following the news that Coupang is going public on the Nasdaq market, related stocks surged simultaneously, seemingly impacting Mirae Life Resources' stock price as well. Mirae Life Resources supplies pet health functional foods to Coupang through an Original Design Manufacturer (ODM) method.

As of 11:52 AM on the 12th, Mirae Life Resources is trading at 3,225 KRW, up 6.79% from the previous day.

With Coupang partners such as KTH and Dongbang all hitting the daily limit, it is interpreted that Mirae Life Resources was also influenced.

Mirae Life Resources has a partnership contract with Coupang and supplies ODM treats and granule products with three functionalities?skin, joints, and immunity?to Coupang’s pet specialty brand 'Tamsa.' Additionally, it supplies ODM products with four functionalities?eyes, joints, skin, immunity?as well as dental (salmon) and dental (krill) products to Cargill’s pet snack brand 'One Day Care.'

In the fourth quarter of 2019, Mirae Life Resources launched its own brand, Optipet, which means 'solutions optimized for pet health and life.' The company plans to provide all necessary pet-related items such as food, hygiene products, devices, and services in line with the Optipet brand philosophy. They have released chewable pet health functional foods with four functionalities: skin, tears, joints, and comprehensive nutrition. Products supplying omega and vitamins have also been added. These are sold at Interpet Korea’s 'Jangboneun Gangaji wa Goyangi' with over 100 pet shops nationwide, and 'Yaong-a Meongmeong Haebwa,' which has over 70 stores nationwide.

Mirae Life Resources opened its own online mall, Optipet Mall, in June last year, striving to supply not only food but also various products and services. To promote its online mall and brand, it built a Naver Store and produced content. Before launching Optipet, to improve facility utilization, it pursued orders for ODM and Original Equipment Manufacturer (OEM) production, leading to a partnership contract with Coupang and its affiliates.

According to the Korea Rural Economic Institute’s ‘Research Report on the Development Plan for Pet-Related Industries,’ the pet market size increased to 3.3753 trillion KRW last year and is expected to reach 6 trillion KRW by 2027. Hana Financial Investment analyzed that Mirae Life Resources developed health functional foods using over 20 years of accumulated know-how in functional material development, differentiating its products from general snacks through functionality.