Hanchang Biotech Strengthens ESG Management and Secures Future Growth... Company Name Change Completed

[Asia Economy Reporter Jang Hyowon] Hanchang Biotech announced on the 8th that it has completed its name change and will accelerate its renewable energy and e-commerce platform businesses with its parent company, Hanchang.

Through this name change, Hanchang Biotech will officially be incorporated into the Hanchang group and, as an affiliate, will support Hanchang's renewable energy business promoted as part of its ESG management. Additionally, it is also pursuing an online commerce business utilizing new media and advanced distribution infrastructure.

A company representative explained, “As Hanchang firmly establishes its responsible management as the major shareholder and changes its name to Hanchang Biotech, we plan to maximize synergy effects with the parent company in ESG management-based renewable energy and PM businesses. Furthermore, we are accelerating the online commerce business in line with changes in the distribution paradigm, which we expect to achieve meaningful results.”

They added, “By diversifying our core business revenue base through the supply of new bio-products using microorganisms, we aim to secure future growth engines, break away from the deficit structure, and focus on achieving operating profit and sales growth next year.”

Moreover, based on collaboration with Hanchang, which possesses experience and know-how throughout the entire process from licensing to completion, Hanchang Biotech is already showing results in the recently established real estate development project total management (PM) business. It is focusing on improving performance by securing redevelopment PM project orders in Dongducheon, Gyeonggi-do, and Sokcho-si, Gangwon-do.

Meanwhile, Hanchang Biotech pursued this name change to embody its vision for IT technology businesses such as metaverse and NFT, based on its existing bio business foundation including pharmaceutical raw materials.

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