On the 12th, Kwon Ki-chang, Mayor of Andong City, visited Yuhan Health Life Co., Ltd. in Yeouido, Seoul, to discuss cooperation plans for the development of the hemp industry with CEO Kang Jong-su.
At the meeting, CEO Kang Jong-su of Yuhan Health Life Co., Ltd., executives, Mayor Kwon Ki-chang of Andong City, and investment attraction officials attended to share difficulties related to the Gyeongbuk Industrial Hemp Regulatory Free Zone Project and to seek solutions.
Kang Jong-su, CEO of Yuhan Health Life (right), and Kwon Ki-chang, Mayor of Andong, are having a conversation about the hemp industry.
In particular, the recent announcement by the Ministry of Food and Drug Safety of the 'Top 100 Regulatory Innovation Tasks for Food and Medicine,' including the relaxation of marijuana regulations, has signaled a green light for the hemp industry. Yuhan Health Life, which established an outpost in Andong, the home of the hemp special zone, and Andong City have joined hands to lead the development of the domestic hemp industry.
Yuhan Health Life Co., Ltd. is a company that realizes the value of lifestyle using health functional foods and cosmetics based on natural product research. Since participating in the 2020 Gyeongbuk Industrial Hemp Regulatory Free Zone Project, it currently has a research institute in Andong focusing on pharmaceutical manufacturing and prototype development of cannabidiol (CBD) isolate raw materials using supercritical fluid extraction and purification technology.
Recently, it also launched the clean beauty brand ‘Hevoir’ utilizing hemp and is jointly developing a long-acting injectable based on medical marijuana candidate substances with the listed company InventiZ Lab.
CEO Kang Jong-su emphasized, “Yuhan Health Life aims to research and develop CBD raw materials for medical use with the ultimate goal of pioneering overseas markets,” adding, “In addition to CBD, we intend to focus on developing various natural products. To succeed in the business, we will work together with Andong and need active support from Andong City.”
Mayor Kwon Ki-chang of Andong City said, “The management philosophy of the founder, Dr. Yuil Han, aligns with Andong’s human-centered regional sentiment,” and added, “Andong City shares the vision of Yuhan Health Life’s business roadmap and plans to make Andong a mecca of natural products together with Yuhan Health Life.”
Mayor Kwon Ki-chang of Andong City embarked on his second corporate visit following SK Bioscience in November to seek win-win cooperation plans with companies to transform the city into an eco-friendly corporate city full of investment and jobs.
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