MOKPO, July 15 (Korea Bizwire) – Haengnam Chinaware, the second largest producer of ceramic wares in South Korea, announced on Thursday, July 14, that it will sign an agreement with the city of Mokpo to build an amino acid supplement manufacturing facility at the city’s coastal industrial complex in September of this year.
Amino acids are protein building blocks that are known to enhance the overall health and wellness of humans. A new extraction technology for amino acids, jointly developed by the Korea Food Research Institute and Innoway Co. as part of a national project, can extract 20 different compositions including nine essential and 11 non-essential amino acids.
A total of 25 billion won ($22 million) will be invested in the new facility, which will be constructed on a 5,700 square meter parcel of land. The facility is expected to produce 500 tons of amino acid supplements per year.
Haengnam Chinaware is making a large investment in this project with hopes of dominating the global market, which is thought to have great potential. The company anticipates annual revenue of 50 to 400 billion won ($44 million to $353 million).
“Amino acid supplements that are currently sold in other countries contain about three kinds of amino acids. Our technology is the first in the world to extract 20 amino acid compositions,” said an official from Haengnam Chinaware.
“We use culled chicken, chicken breast meat, pork leg, and lean beef meat to extract different kinds of amino acids, and so the new facility will benefit livestock farmers who are struggling with low meat consumption,” he added.
By Nonnie Kim (email@example.com)