High-Value-Added Bioindustry Commercialization Verification Work
[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Gyeongbuk Province has jointly launched a demonstration project for the 'Industrial Hemp Regulatory Free Zone' with the Ministry of SMEs and Startups to verify the industrialization potential of hemp, classified as a narcotic.
This hemp demonstration launch follows the approval of the demonstration launch plan submitted by the special zone operator by the Small and Medium Business Corporation (the dedicated agency for regulatory free zones) on the 27th of last month.
Gyeongbuk Province will first actively promote hemp cultivation and management, and plans to begin demonstration for the manufacturing and export of raw pharmaceutical materials using hemp from the second half of this year.
Andong City in Gyeongbuk, the largest hemp (HEMP) production area nationwide, was designated as an industrial hemp regulatory free zone in July last year. Since then, Gyeongbuk Province has focused on cultivation method research, including preliminary studies for selecting superior varieties, to prepare for the demonstration launch and reduce trial and error.
Hemp (HEMP) contains CBD (cannabidiol), which is effective in alleviating epilepsy symptoms, anti-inflammatory, and pain relief effects, highlighting the need for industrial application. However, it was restricted under the Narcotics Control Act.
The Ministry of SMEs and Startups and Gyeongbuk Province plan to establish a distribution system integrating IoT (Internet of Things) and blockchain technology to ensure safety in hemp industrialization, minimizing human intervention to enhance the speed and accuracy of reporting for handover and disposal.
Additionally, centered on Gyeongbuk Province, a safety inspection committee composed of the Daegu Food and Drug Administration, Gyeongbuk Provincial Police Agency, Andong City, and related experts will establish hemp safety management guidelines and conduct regular monitoring of safety matters by sector following the demonstration launch.
This demonstration holds great significance as the first attempt to ease regulations that have been obstacles to the 'Korean-style HEMP industrialization.' Gyeongbuk Province explains that if regulations are eased, it will play a major role in the domestic industrialization of raw pharmaceutical materials using CBD.
Jang Sang-gil, Director of the Science and Industry Bureau of Gyeongbuk Province, emphasized, "By safely and systematically demonstrating the regulatory free zone project, the only policy tool for fostering the hemp industry, we plan to focus on developing hemp-based upstream and downstream industries linked with the existing bio and vaccine clusters." He added, "We will lay the foundation for the Korean-style hemp industry to enter the global market."
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