Lotte Chilsung Enters Healthcare Market... Signs Business Agreement with Biome

Joint Research on Bifido and Microbiome
Development of Functional Probiotic Products

Park Yoon-ki, CEO of Lotte Chilsung Beverage (left), and Ji Geun-eok, CEO of Bifido, are posing for a commemorative photo after signing a business agreement on the 20th for "Healthcare Strain Development and Joint Research on Microbiome."

[Asia Economy Reporter Lim Hye-sun] Lotte Chilsung Beverage is entering the healthcare market. It will first develop probiotic functional products (beverages).

On the 21st, Lotte Chilsung Beverage announced that on the 20th, its CEO Park Yoon-gi attended a ceremony at the company’s headquarters in Songpa-gu, Seoul, to sign a business agreement with Bifido, a health functional food manufacturer, for "Healthcare Strain Development and Microbiome Joint Research."

Through this agreement, Lotte Chilsung Beverage aims to discover healthcare functional strains by combining the plant-based lactic acid bacteria research and product development capabilities of Lotte Central Research Institute with Bifido’s research and manufacturing technology of human-derived lactic acid bacteria (Bifidobacterium). They also plan to promote joint research and product development related to the human microbiome.

The microbiome, which is the subject of the joint research, is a field that studies the comprehensive genetic information of beneficial and harmful bacteria in the human body and their correlation with health and disease, gaining global attention. The microbiome industry can be applied to various sectors such as food, therapeutics, and cosmetics. In South Korea, it has also been selected as one of the government’s five major green bio industries. According to market research firm Frost & Sullivan, the global microbiome market size is expected to grow from $81.1 billion (approximately 89 trillion KRW) in 2019 to $108.7 billion (approximately 120 trillion KRW) in 2023, with an average annual growth rate of 7.6%.

In addition to collaborating with Bifido, Lotte Chilsung Beverage plans to develop health functional materials and products required throughout the life cycle from infancy to old age to secure future growth engines. They also plan to launch personalized nutrition management solutions, such as a diet management app linked to these developments.

Meanwhile, Bifido is a leading company in the microbial research and development field, expanding its core competencies in Bifidobacterium research and product development into functional strains, pharmaceuticals, and cosmetics. It owns its own brands, including the probiotic brand "Jigeuneok Bifidus" and the cosmetics brand "Bifido Lab," based on Bifidobacterium technology.