Woori Green Science announced on the 29th that it has signed a Memorandum of Understanding (MOU) with Jeonju Agricultural Life Science Materials Research Institute to industrialize bio-materials, including medical cannabis, and strengthen competitiveness.
This agreement aims to jointly develop fermentation process technology for various components contained in medical cannabis cultivated in smart farms, as well as functional materials with increased absorption rates through fermentation.
Woori Green Science, a subsidiary of Woori Bio, was established in August 2022. It continues the research on high value-added medicinal crops such as medical cannabis and marigold conducted by Woori Bio, focusing on cultivating functional crops and developing raw materials for health supplements for commercialization.
Currently, it is conducting research related to anti-stress and anti-aging in collaboration with multiple specialized cannabis research institutions.
Jeonju Agricultural Life Science Materials Research Institute is a research institution under Jeonbuk Special Self-Governing Province. In 2004, it was selected as a supported institution for the Ministry of Science and Technology's "Local Government Research Institute Development Project" and has received a total of 6 billion KRW in project funding from the Ministry of Industry and Resources, Jeonbuk Special Self-Governing Province, and Jeonju City to research the regional bio-industry.
Yoon Ji-yong, CEO of Woori Green Science, stated, "We are developing functional materials using components from medicinal plants and medical cannabis cultivated in smart farms. Through the MOU with Jeonju Agricultural Life Science Materials Research Institute, we will accelerate the development of various competitive functional materials."
Kim Sang-nam, Director of Jeonju Agricultural Life Science Materials Research Institute, said, "As a specialized research institution located in Jeonju, Jeonbuk, we will actively cooperate in providing technical support for efficacy evaluation at the cellular and animal levels and joint collaboration to strengthen the competitiveness and industrialization of the functional materials held by Woori Green Science."
Both parties plan to contribute to revitalizing the bio-industry ecosystem and regional development through research and development under this collaboration.
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