THE WHAT? CJ CheilJedang and National Marine Biodiversity Institute of Korea have signed a memorandum of understanding to exchange research data on marine resources with a view to discovering new commercial ingredients for the FMCG industry, according to a report published by Yonhap News Agency.

THE DETAILS The institute runs the Marine Bio Bank, a database of approximately 7,600 ocean-derived biomaterials. The two organizations will cooperate to foster marine experts and share related infrastructures.

THE WHY? The ministry told Yonhap News, “The bank currently holds various marine materials that can be used to produce foodstuffs, cosmetics and pharmaceutical products. The agreement with CJ will speed up the development of consumer products that utilize such materials.”