NeoKenBio, a Yeoncheon BIX Resident Company, Receives Approval for Medical Hemp Demonstration Sandbox
Ministry of Trade, Industry and Energy Approves Regulatory Sandbox Project... NeoKenBio Expected to Grow as Yeoncheon BIX Anchor Company
Yeoncheon County: "Partnering with Companies to Realize a City Centered on the Green Bioindustry"
Yeoncheon County in Gyeonggi Province announced on October 20 that the medical hemp industrialization demonstration project by NeoKenBio Co., Ltd., a resident company of Yeoncheon BIX (Euntong General Industrial Complex), was approved at the 3rd Industrial Convergence Regulatory Sandbox Review Committee of 2025, held on September 25 under the supervision of the Ministry of Trade, Industry and Energy.
Overview of NeoKenBio Co., Ltd.'s Medical Hemp Industrialization Demonstration Project. Provided by Yeoncheon County
NeoKenBio Co., Ltd., which purchased a medical-use site within Yeoncheon BIX (Euntong General Industrial Complex) at the end of last year, has been preparing to establish a system for cultivating medical hemp and producing pharmaceutical-grade cannabidiol (CBD). With this demonstration sandbox approval, a foundation has been established to verify the effectiveness and safety of the system.
The core of the demonstration project is to build and operate a hemp cultivation system that meets GACP (Good Agricultural and Collection Practices) standards and a CBD production system that complies with GMP (Good Manufacturing Practice) standards within Yeoncheon BIX. Through this, NeoKenBio aims to achieve simultaneous production of high-quality medical hemp raw materials and pharmaceutical-grade CBD.
The review committee granted the demonstration sandbox after comprehensively considering the growth potential of the medical hemp market, the need to secure technology, and the global trend toward regulatory easing. However, only cultivation and manufacturing for the purpose of exporting pharmaceutical ingredients are permitted, and all additional conditions presented by relevant ministries, such as the implementation of safety measures, must be faithfully fulfilled.
Kim Deokhyeon, Governor of Yeoncheon County, stated, "This demonstration sandbox approval marks a significant turning point in realizing Yeoncheon County's vision of becoming a city centered on the green bioindustry," adding, "We will actively support NeoKenBio in its leap as an anchor company of Yeoncheon BIX so that it can grow together with the local residents."
Meanwhile, Yeoncheon County is focusing its policy efforts on designating a 'Green Bioindustry Promotion Zone' and an 'Opportunity Development Special Zone' to attract related companies and improve the investment environment, with the green bioindustry-combining agriculture and biotechnology-set as its next-generation growth engine.
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