Ljubljana, 30 August (STA) - Slovenian hemp product maker PharmaHemp has signed a memorandum of understanding on the development and production with South Korea's producer of medical products T&L, which is currently constructing a factory in Maribor. The companies are working together to develop medical plasters with hemp extract.
PharmaHemp and T&L started working together in 2022 with the aim to develop advanced cosmetics and medical products.
They are developing advanced hydrocolloid, plastisol and micro-carbon medical plasters with purified hemp extract, which will enable a broader spectrum of efficacy for a wide range of skin problems, PharmaHemp said on Friday.
The initiative for cooperation came from T&L, said PharmaHemp head of development Boštjan Jančar. The South Korean company, which has 200 employees, prouces medical plasters, dressings and similar products for skin treatment.
The use of hemp, CBD or any cannabinoid is banned in South Korea, which is why they needed a foreign partner and they have chosen PharmaHemp.
T&L is currently completing the first phase of a EUR 4 million investment in a new Factory in Maribor, which is expected to be launched in February or March next year. It will create 35 jobs, including skilled lab workers.
In the second phase T&L is planning a EUR 10 million investment to expand production.
T&L director Yoon-so Choi said they chose Slovenia because of its geostrategic location, developed infrastructure and innovative, skilled workforce. "We at T&L believe that through our cooperation with PharmaHemo with skin care products with CBD we can become leading in medical care with CBD," he said.
Economy Minister Matjaž Han, who attended the signing, said that the memorandum was not just a key document for the companies but also a milestone for the economic ties between Slovenia and South Korea. He said the two countries share the values of hard work, innovation and the vision of the future.
PharmaHemp was founded in 2007 and produces ingredients and products from hemp. It currently employs around 25 people.
