Lakewood, CO, Dec. 05, 2022 (GLOBE NEWSWIRE) -- KRTL Holding Group, Inc. (OTC: KRTL) an innovator and pioneer in developing industry leading cross-over tradecraft and proprietary technology and methodology in the hemp, cannabis, psilocybin, and alternative wellness sectors, is pleased to announce that its wholly owned subsidiaries, KRTL International Corp and KRTL Biotech Inc. (“KRTL”), have entered into a memorandum of understanding (MOU) for the development of industry-differentiated commercial CBD and other cannabinoid based products with Yuhan Care, a subsidiary of Yuhan Corporation, a global pharmaceutical company founded in 1926. Inspired by the hardship that their founder Dr. Ilhan witnessed under Japanese Imperialism, Yuhan Corporation was started with the belief that only healthy people could reclaim their sovereignty and he sought to solve widespread public health problems based on that mission.
Today, Yuhan Corporation is a highly respected corporation holding the distinction of Korea’s #1 Pharmaceutical Company award for 20 consecutive years. Taken over the research competence of Yuhan Corporation, Yuhan Care specialize in natural health products. They have the capability of supercritical extraction and cannabinoid efficacy research to get high purity CBD extract, and this led them to be the first representative of CBD research in Korea’s Hemp Free Zone approved by the government.
This has given Yuhan license to be the first exporter of Korea CBD (K-CBD) into the US, as well as the first importer bringing US-based CBD products into Korea. Yuhan’s position in the Korea Hemp Free Zone has strong synergy with KRTL’s presence in that space and KRTL’s own KFDA approval and special advisor status within that sector.
“We’re honored to have Yuhan Care engage with us at KRTL, they are a natural health care professionals inherited innovative research competence from Yuhan Corporation, 100-year-old company with a pristine reputation in Korea and around the world. Their commitment to quality and transparency is something we strive for at KRTL and a standard to be emulated by any in the pharmaceutical industry. This agreement allows KRTL to take an incredible strategic step toward our commercial efforts in Korea as the country progresses toward legalization based on the work in the Hemp Free Zone and allows a trusted and significant bridge for CBD products coming into the US from Korea – something that’s never been done before,” said Kai Kim, CEO of KRTL International Corporation.
Under this MOU, KRTL will develop joint cannabinoid-based products alongside Yuhan targeted at the US and Korean commercial markets, develop, distribution channels and partners, and collaborate on various Research and Development (R&D) projects within the Korea Hemp Free Zone and throughout the US. This agreement outlines the exclusive utilization of KRTL’s CBD manufacturing partners which boast cGMP compliance, FDA approval, and certified ISO/IEC 17025 facilities based in the US, for the sole sourcing of cannabinoid-based products that emerge from this agreement. Yuhan and KRTL share a focus on industry-leading standards of quality, for that reason Yuhan sent their Korea-based leadership team of Yuhan Care to meet with KRTL leadership at KRTL’s partnered manufacturing facility in Oregon to do a tour, inspection, and a signing ceremony of the MOU to signify the commitment each party has to the joint success of this venture.
“It is an honor to take the first step in the commercialization and export of CBD with KRTL, a global company with an international influence on cannabis.” and "Yuhan Care is a company that researches and leads the functionality of natural products. With this agreement as an opportunity, we will make more efforts so that the value of CBD as a natural product can be recognized and industrialized." said Jong-Soo Kang, CEO of Yuhan Care Corporation.” said Jong-Soo Kang, CEO of Yuhan Care Corporation.
About KRTL Holding Group, Inc.
KRTL Holding Group Inc. operates its wholly owned subsidiaries, KRTL Biotech, Inc. and KRTL International Corp. Each company has its focus on specific industries including bio and Agri-Technology, to International Trade and Distribution of these technologies and services. This strategy allows KRTL Holding Group to capitalize on investment opportunities, and partnerships, creating value for its shareholders. Additional information on KRTL is available online at www.krtlholding.com and www.krtl-icc.com and www.krtlbiotech.com.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
