Hanchang Strengthens New Growth Engines... "Securing Future Growth Areas Such as Renewable Energy, Metaverse, NFT, and Bio"

[Asia Economy Reporter Jang Hyowon] Hanchang (CEO Choi Seunghwan) announced on the 22nd that it will accelerate growth next year through specialization in new businesses and creation of future growth engines, including the incorporation of Hanchang Biotech into its group and acquisition of shares in Busan Ventures.

The company officially completed the incorporation of Hanchang Biotech into its group through a name change on the 8th. A representative of Hanchang Biotech stated, “We have secured future growth engines by diversifying our business base and supplying new bio products using microorganisms,” adding, “We plan to continue this as a synergy effect with our parent company, Hanchang.”

Hanchang has secured 48.7% of shares in Busan Ventures and is also focusing on entering new IT businesses. The company explained that it has laid a stable business foundation by investing in Busan Ventures for the development of metaverse and non-fungible tokens (NFTs) based on the bio business conducted with Hanchang Biotech.

Busan Ventures, in which the company invested, is a financial platform company with venture capital subsidiaries such as BV Investment and BV Partners. Major shareholders include specialized companies in finance, IT, and blockchain such as Hanchang, BNK Busan Bank, Douzone Bizon, and Terraform Labs. In November, it signed a three-party business agreement with FutureSense and Marvelous as part of the 4th Industrial Avengers and aggressively entered the metaverse business. The company’s technology and business capabilities are expected to be shared and transferred to Hanchang and Hanchang Biotech for metaverse and non-fungible tokens (NFTs).

A Hanchang representative said, “Founded in 1967, our company has accumulated experience and know-how in various business sectors, and based on this, we will pioneer innovative new markets such as renewable energy, bio, metaverse, and NFTs,” adding, “We will show a newly starting and leaping Hanchang in the upcoming 2022.”

He added, “Despite the difficult environment this year, we had the honor of receiving the Korea Management Award,” and said, “We will become an eco-friendly, future-oriented company that can contribute to the country and the economy.”