SEOUL, June 25 (Korea Bizwire) — CJ Cheiljedang Corp., South Korea’s leading food manufacturer, is moving aggressively to expand its ‘white biotechnology’ ventures.
White biotechnology refers to replacing the main raw materials of the chemical industry with biomaterials using renewable resources or biological agents such as microorganisms and enzymes.
The company recently signed a memorandum of understanding (MOU) with HDC Hyundai EP Co., the nation’s largest compounding company, for the establishment of a joint bio-compounding company.
Compounding refers to a method of production that involves the mixing of more than two industrial raw materials.
The two companies plan to sign a contract by the end of this year in their bid to speed up the establishment of the joint venture.
The joint venture will pursue the mass production of bioplastics by combining more than two eco-friendly materials, including the biodegradable plastic material polyhydroxyalkanoate (PHA) and cellulose.
In addition, the joint venture will be engaged in replacing existing petrochemical raw materials with biological raw materials or applying bioplastics into life-related areas, including food packaging and car interior materials.
Ashley Song (email@example.com)