Gyeongnam Korean Medicine Anti-Aging Research Institute - Jinix, 'HanQae (愛)' Technology Transfer Agreement

Co-CEO Jo Hyeong-taek of Zynix (left) and Lee Hyang-rae, Director of Gyeongnam Korean Medicine Anti-Aging Research Institute, are signing a technology transfer agreement with HanQ and posing for a commemorative photo. (Photo by Gyeongnam Korean Medicine Anti-Aging Research Institute)

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kang Woo-kwon] The Gyeongnam Oriental Medicine Anti-Aging Research Institute announced on the 20th that it signed a technology transfer agreement for Hankyu-ae (愛) with Jinix in the seminar room on the first floor of the institute.

Through this agreement, the institute transferred the Hankyu-ae manufacturing technology it developed to Jinix and agreed to continue practical consultations on product production and marketing methods.

The institute will receive an upfront technology fee of 13 million KRW (10% of the development cost) from Jinix, and thereafter will receive an annual royalty of 1% of sales revenue.

Hankyu-ae is a high value-added R&D product developed by the Gyeongnam Oriental Medicine Anti-Aging Research Institute, which invested 130 million KRW of its own funds over two years of research starting in 2018. There are two products: one for diet and one for constipation improvement and antioxidant purposes. The diet product mainly contains Baekbokryeong, Jirio-gapi, and Calamansi, while the constipation improvement and antioxidant product mainly contains Duzung, Gaeddongsuk, and Mulberry.

Director Lee Hyang-rae stated, "I hope Hankyu-ae will establish itself as a competitive product, and we will continue to develop various products in line with the growth of the anti-aging industry."

Meanwhile, the Gyeongnam Oriental Medicine Anti-Aging Research Institute has been developing anti-aging products using natural materials and has completed nine technology transfers since 2017, totaling ten including Hankyu-ae.

This content was produced with the assistance of AI translation services.