Alt Protein Revolution in South Korea: Plant-Based Thrives & Cultivated Meat Receives Huge Investment
South Korea continues at the forefront of alt food developments as interest in alternatives to animal products soars. Several factors have been credited, including growing sustainability and food security concerns As reported by Korea JoongAng Daily today, Nongshim, the largest instant noodle and snack company in South Korea, has revealed plans to invest $7.4 million in venture funds to support food tech startups developing cultivated meat and smart farms. Nongshim believes cultivated meat will be a promising alternative as the demand for sustainable foods continues to grow, according to the publication. Two Seoul-based companies, Stonebridge Ventures and IMM Investment, will manage the new capital and conduct in-depth evaluations. Meanwhile, Nongshim techUP+, Nongshim’s program for food tech startups, will continue to run with other investments. Last year, the …