KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Food

SK Enters Food Technology Innovation Scene To Advance Sustainability

 974 total views,  1 views today

Minseo Park by Minseo Park
PUBLISHED: July 30, 2021 UPDATED: August 1, 2021
in Food, SK, Tech Industry
0
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.

SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.

SK Inc., SK Group’s investment arm, announced that it injected more than $100 million into promising global food technology developers. According to the company, the strategic investments align with SK Group’s company-wide strategy to uphold ESG-related principles.

Besides supporting corporate values, SK Inc.’s expanding partnerships with food tech companies demonstrate its commitment to sustainability. What’s more, SK Inc. actively seeks to discover and foster future growth engines, strengthening its long-term global competitiveness.

Investing in Future Growth Engines

Moreover, SK Inc. expects its extensive investment portfolio to advance the development of new, sustainable food sources. Aside from introducing greener food production processes, these up-and-coming food sources aim to make healthy food options more accessible to consumers worldwide.

Over the past year, SK Inc. has invested in various food tech innovators based in the UK and US. In addition to selling ingredients and food products, the companies specialize in developing meat-free or plant-based food alternatives.

The companies also include Meatless Farm, Nature’s Fynd, and Perfect Day. SK Inc. plans to collaborate with them as an investor and partner on their respective international expansion plans. The SK Group affiliate would also establish growth opportunities for these companies across Asian markets.

Offering Sustainable Food Innovations

At present, SK Inc. seeks to invest in Meatless Farm as part of its alternative food investment portfolio diversification. Meatless Farm is a protein company that offers a variety of meat-free products, including burgers, breakfast patties, hotdogs, and nuggets.

The company also invested $25 million in Nature’s Fynd, a newly established company that develops proteins using microbes. Earlier, SK Inc. teamed up with various investors, including SoftBank, to accelerate the food startup’s meat and dairy substitute development.

Last year, SK Inc. marked its food innovation market entry with an investment in Perfect Day, another food tech developer. Perfect Day utilizes fermentation to develop plant-based dairy protein for diverse product uses, including butter, cheese, ice cream, and milk.

The global alternative food investment scene also blew up to $2.2 billion in 2020, climbing 20-fold from its 2016 records. On a similar note, Shinsegae recently launched Better Meat, its new meat analog brand, entering the fast-growing alternative food market.

Aligning Operations with ESG

Furthermore, SK Inc.’s intensive investments in food tech growth engines align with SK Group’s ESG business principles. In particular, SK affiliates have been investing in green solutions, including renewable energy, resource conservation, and sustainable packaging.

Similarly, SK Inc.’s partnership with food innovators enhances food production, minimizing greenhouse gas emissions from food and livestock refrigeration. The three companies have also organized environmental life cycle studies, ensuring that their food production delivers positive impacts.

“Our investments in new food companies are a natural evolution of SK’s long-term commitment to the double-bottom line philosophy and ESG principles,” said Kim Moo-Hwan, Executive VP of SK Inc.’s Green Investment Center.

“New food is a fast-growing industry area that can provide tangible economic and social benefits through innovations,” continued Kim. The SK official also noted that these innovations hold the potential to deliver more efficient and environmentally friendly food production methods.

Check out other must-read articles from KoreaTechToday:

  • Shinsegae Takes On Alternative Meat Trend with ‘Better Meat’
  • Food-Tech Startup SeaWith to Commercialize Cultured Meat by 2022
  • LG, Woowa Collaborate in Service Robot Development in Food Industry
  • KRICT Develops Safety Sticker that Indicates Spoiled Food
What’s your thoughts?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Tags: food alternativefood technology innovatorhealthier and accessible foodMeatless FarmNature's FyndPerfect DaySK Inc.sustainable food chain

Related Posts

Top 8 Collaborative Initiatives Fostering Innovation Among South Korea’s Tech Giants
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.
government

Top 8 Collaborative Initiatives Fostering Innovation Among South Korea’s Tech Giants

August 31, 2023
Samsung Electronics Enters Food Tech with ‘Samsung Food’ AI Nutrition Platform
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.
Food

Samsung Electronics Enters Food Tech with ‘Samsung Food’ AI Nutrition Platform

August 25, 2023
Park Yun-gyu, Vice Minister of Science and ICT.
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.
5G

Telecom Strategy: Ministry Evaluates Mobile Data Transfer System

August 23, 2023
SK On Invests $1.12 Billion to Boost Battery Production in South Korea
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.
Battery

SK On Invests $1.12 Billion to Boost Battery Production in South Korea

August 16, 2023
Korea Takes Action Against Technology Leakage: Proposed Bill Targets Industrial Technology Protection
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.
Korea Policy Center

Korea Takes Action Against Technology Leakage: Proposed Bill Targets Industrial Technology Protection

July 20, 2023
SK Telecom Faces Allegations of Headhunting Naver’s AI Professionals
SK partners with various food technology innovators, spreading healthier and accessible food options and creating a more sustainable food chain.
AI

SK Telecom Faces Allegations of Headhunting Naver’s AI Professionals

June 22, 2023
No Result
View All Result

Most Popular

  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • SK Telecom, KT, LG Uplus Start Pre-ordering for Apple’s iPhone SE

    0 shares
    Share 0 Tweet 0
  • Netflix Files Civil Lawsuit Against SK Broadband Over Network Fees

    0 shares
    Share 0 Tweet 0
  • KT Corporation to develop Korea’s Wifi AP Market via Intel MOU

    0 shares
    Share 0 Tweet 0
  • Quantum Security Arrives in South Korea Thanks to SK Broadband

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • Samsung Unveils 2024 Generative AI Roadmap for Home Appliances

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Top 8 Collaborative Initiatives Fostering Innovation Among South Korea’s Tech Giants

    0 shares
    Share 0 Tweet 0

PRODUCTS

TESSAN Germany France Travel Power Adapter

Lonely Planet Korea 12

Korean Snack Box Variety Pack

OSULLOC Lovely Tea Gift Box Set

TOPICS

  • Naver
  • Kakao
  • Nexon
  • Netmarble
  • NCsoft
  • Samsung
  • Hyundai

FREE NEWSLETTER

FOLLOW US

  • About Us
  • Cookie policy
  • homepage
  • Privacy Policy
  • Terms of Use

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |