Woogene B&G announced on July 2 that it signed a memorandum of understanding (MOU) for Korea-Russia joint technology development regarding the manufacture of feed additives with the help of KOTRA headquarters and Moscow trade office.
The MOU was conducted online under the auspices of KOTRA due to the COVID-19. Woogene B&G and Wonsang PNC and Far Eastern Peat Company of Russia have agreed to develop Korea-Russia international joint technology and exchange and development between the two countries through the manufacture of feed additives using fulvic acid and humic acid extracted from peat in Russia.
Woogene B&G, along with OSP, a subsidiary of premium pet food, is continuously developing its feed-related business capabilities. OSP recently signed contracts with Daeshin Securities Co. and SK Securities Co. for IPO organizers, and is seeking to be listed on KOSDAQ in the second half of next year.
Through this joint technology development cooperation between South Korea and Russia, it is planning to raise its technological competitiveness to the next level.
Kang Jae-gu, CEO of Woogene B&G, said in an opening speech, "Russia has abundant natural resources and has high quality of peat, but its utilization is low, so we will jointly develop it as a product with high added value with Korean technology."
Ji Joon-hong, CEO of Wonsang PNC, said, "It is significant that Wonsang, which has a technology for the peat extraction method, and Woogene B&G, which has the technology for the manufacture and development of feed additives, meet to develop excellent products and start cooperative development that can be sold to third countries."
Woogene B&G is a company specializing in the manufacture and sale of animal and human raw material medicines, which was founded in 1977 and marks the 43rd anniversary of its foundation this year.
