HANDOK announced on the 19th that its health functional food and food subsidiary 'HANDOK Healthcare' has officially launched.
HANDOK Healthcare is a newly established corporation that integrates HANDOK's consumer healthcare division with the Japanese functional raw materials company 'Teravalue', acquired by HANDOK in 2016, and operates as a wholly-owned subsidiary of HANDOK.
The company noted, "The launch of HANDOK Healthcare is part of HANDOK's value-up strategy," adding, "We have been able to enhance our revenue by vertically integrating raw materials, product development, and sales."
Kim Dong-han, executive director of HANDOK's planning and coordination office, and Kwon So-hyun, head of Teravalue, have been appointed as co-representatives of HANDOK Healthcare. Kim will oversee health functional food and food operations, while Kwon will handle global raw materials and research and development tasks.
HANDOK Healthcare plans to target the health functional food market through online and offline platforms, promoting its core competitiveness in the premium curcumin material 'Teracurcumin', which has increased absorption rates. Curcumin is an extract from turmeric, a functional ingredient in health functional foods. According to the company, curcumin was recognized as the top health product chosen by consumers in the United States.
Kim Dong-han stated, "Competition in the health food market is intensifying, but we will secure revenue through vertical integration centered on Teracurcumin and aim for steady growth in both domestic and global markets."