ToolGen and KT&G Sign Agreement to Develop High-Value Tobacco System

Business by 2FIRSTS.ai

May.24.2024

ToolGen and KT&G Sign Agreement to Develop High-Value Tobacco System

ToolGen and KT&G signed a joint research agreement on May 23, 2024, to develop a high-value tobacco correction system.

According to South Korean media NEWSWIRE, on May 23rd, a gene editing and repair company called ToolGen, based in Seoul, signed a joint development agreement with the South Korean tobacco manufacturing and sales company KT&G to develop a high value-added tobacco correction system. The agreement is set to take effect on May 23, 2024.

The main purpose of this agreement is to develop new varieties of tobacco with specific reduced components and excellent taste using gene editing technology.

ToolGen's representative, Lee Byunghwa, stated, "ToolGen is utilizing gene editing technology to develop high-value seeds. We have obtained a biotechnology crop regulation exemption permit from the United States Department of Agriculture (USDA) for genetically repaired dwarf morning glory, soybeans, potatoes, etc., proving that we possess the highest level of technological capabilities globally. The two companies will engage in mutually beneficial cooperation in areas such as joint research, academic exchanges, and shared use of research equipment and facilities.

In addition, the agreement also stipulates that both parties will work together to develop new genetic resources and cultivate new varieties, and commercialize these new varieties.

References:

[1] 툴젠, 케이티앤지와 유전자 교정기술을 이용한 고부가가치 담배 교정체 개발 연구협약 체결

Also Read:

[1] KT&G Reports Lower-than-Expected First Quarter Financial Performance

[2] KT&G and PMI Partner to Expand E-Cigarette Market in Central and South America

[3] KT&G to Launch New E-cigarette "lilhybrid" Pod "MIIX ORASOME"

[4] KT&G to Expand Indonesia Production to 350 Billion Cigarettes as World's Largest Production Base

#Traditional tobacco #Asia #Technology.#South Korea #Heated tobacco products

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