Boram Group Boram Bio Launches Full-Scale Green Bio Business 추진

'Investment Agreement for Naepo Agro-Bio Convergence Industry Cluster Development'
Borambio to Invest 10 Billion KRW in First Phase of Cluster Development

Boram Bio, the bio-affiliated company of Boram Group, is entering the green bio business.

Boram Bio announced on the 15th that it signed a tripartite agreement with Chungcheongnam-do and Yesan-gun to establish an "Investment Agreement for the Creation of the Naepo Agro-Bio Convergence Industry Cluster." The signing ceremony held on the 14th was attended by key figures including Kim Sung-kyu, CEO of Boram Bio, Kim Tae-heum, Governor of Chungnam Province, and Choi Jae-gu, Mayor of Yesan County.

At the 'Investment Agreement Ceremony for the Creation of Naepo Agro-Bio Convergence Industry Cluster' held at Chungnam Provincial Government Office on the 14th, representatives from Boram Bio, Chungcheongnam-do, and Yesan-gun are taking a commemorative photo. (Photo by Boram Bio)

The "Naepo Agro-Bio Convergence Industry Cluster" will be developed on approximately 1.6 million square meters of land spanning 1,177 plots across four areas including Sapgyo-ri, Sapgyo-eup, Yesan-gun. About 400 billion KRW will be invested to build smart farm complexes, industrial complexes, and research support complexes. This large-scale project has attracted nationwide attention, especially since Baek Jong-won, CEO of The Born Korea, agreed last May to participate in attracting and fostering a venture campus.

Through this agreement, Boram Bio will make phased investments to establish the cluster. Initially, it will invest 10 billion KRW to build facilities for a full-cycle standardization hub for natural material sources, and plans to establish factories and research institutes on the cluster site by 2029. The investment amount is expected to expand up to 50 billion KRW during this process.

Through this, Boram Bio will actively enter the green bio business. Green bio refers to the creation of high value-added products by applying biotechnology to the agriculture, fisheries, and food industries. By adding bio technology to unprocessed primary foods, it is possible to produce high value-added products such as functional materials, plant seeds, and additives.

Chungnam Province expects the cluster development to generate a production inducement effect of 10.5 trillion KRW and create employment for 24,000 people including young farmers. In particular, Boram Bio plans to actively collaborate with local farmers on crop cultivation to help "revitalize local farms."

The global green bio market is expected to grow to about 2,600 trillion KRW by 2027. Currently, the domestic green bio market is only about 5.4 trillion KRW (2020), which is less than 1% of the global market. This indicates great growth potential as a next-generation future industry.

Boram Bio plans to actively develop its green bio business by cultivating crops such as So-yeop and Antisperil (a new variety of perilla) within the smart farm complex. It has already developed materials for improving cognitive function and preventing dementia (So-yeop), and improving joint function (Antisperil), and has obtained patents in the United States and China. These materials are currently being developed as natural medicine. Additionally, Antisperil is the only crop in the world for which Boram Bio has acquired technology implementation rights.

Kim Tae-heum, Governor of Chungnam Province, said, “We appreciate Boram Bio for joining us in creating a new business model for agriculture led by Chungnam. Especially, since we are working together with Boram Group, which has established itself as a total life care service specialist, we hope the relationship will continue to mutually benefit the Chungcheongnam-do region in the future.”

Kim Sung-kyu, CEO of Boram Bio, said, “We are pleased to contribute to the development of the domestic green bio industry and to help revitalize local farms and regional talent. We will do our best to lead the global green bio market through this agreement.”

Meanwhile, Boram Bio is a bio-affiliated company of Boram Group, which operates the leading domestic funeral service brand "Boram Sangjo." It discovers functional substances from natural materials and produces various food and cosmetic raw materials as well as health functional food ingredients. Boram Group is actively promoting new businesses such as pet care, bio-jewelry, and MICE (convention) in addition to green bio to realize total life care services.