G-W Biotech, a KOSDAQ-listed company, announced on the 27th that it will make a full-scale entry into the green bio market by launching a new brand, ‘Donghaeng Inryu,’ which includes resource, environment, and animal health bio businesses, based on the results of long-term research services and internal organizational restructuring.
Green bio is an industry that adds biotechnology to primary industries such as agriculture, fisheries, and livestock to produce high value-added products such as functional materials, plant seeds, and additives. It is emerging as a key field to solve future food shortages and poverty issues.
The Korean government has also decided to more than double the scale of the so-called ‘five promising green bio industries’?microbiome, alternative food medifood, seed industry, veterinary pharmaceuticals, and other bio-materials?by 2030.
In line with government policies, G-W Biotech will promote businesses including ▲feed additives ▲animal bio products ▲livestock and aquaculture products ▲discovery of natural substance-derived materials ▲individually recognized health functional foods ▲animal-use CBD.
Additionally, to secure a leading position in the green bio market, the company plans to develop various bio businesses using natural substances, such as entering the markets for deodorants, fabric softeners, shampoos, protective gear, and disinfectants related to the livestock industry, which can yield clear results in a short period.
Earlier, the company launched the ‘Donghaeng Inryu’ brand, which signifies the coexistence of animals, nature, and humanity, and newly recruited former Cargill AgriPurina director Ahn Dae-bong as the head of the Green Business Division (executive director level) to build a human network.
Director Ahn is the top authority in the domestic cattle business development field for compound feed and TMR (Total Mixed Ration) and has served as an advisory member for livestock policy at the Ministry of Agriculture, Food and Rural Affairs and as an advisor to the Korea Rural Economic Institute.
Cargill AgriPurina, where he worked, is the Korean branch of the U.S.-based ‘Cargill,’ the world’s number one agricultural raw material company, owning global brands such as Nutrena and Purina.
This recruitment is interpreted as the company’s intention to achieve substantial results in the green bio field by leveraging a large number of existing PhD-level bio researchers while adding experts in the environment and animal nutrition sectors.
A company official said, “Currently, the global bio industry is classified into three business areas: red bio in disease and health, white bio in chemical and energy, and green bio in agriculture, fisheries, livestock, food, and resources. Among these, green bio is a future promising business with a huge potential market that can solve humanity’s challenges in health, food, and environment.”
He added, “Based on microbiome, medifood, seed, veterinary pharmaceutical, and other bio-material technologies that our company and affiliates have researched together, we will create high value-added outcomes in the green bio market. Through the newly launched brand Donghaeng Inryu, we plan to expand various green bio businesses.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
