South Korean food giant CJ Cheiljedang Corp. said Tuesday it has joined hands with a US startup to develop ingredients used to make health supplements that prevent skeletal muscle loss.

CJ Cheiljedang inked a license agreement with Emmyon earlier in the day to utilize the US startup's various patents covering ursolic acid.

Ursolic acid is a substance found in apple peels and herbs like rosemary and thyme. Emmyon holds a number of patents covering ursolic acid, CJ Cheiljedang said.

The two sides will work together in the research and development of ingredients that can be used to make health supplements that prevent muscle atrophy, which refers to muscle weakness or deterioration from aging, inactivity or malnutrition.

It also plans to sell the ingredient to other global companies, the company added.

CJ Cheiljedang estimated the global market for muscle atrophy related health supplements to reach $5 billion by 2030, amid a global aging trend.

Tuesday's agreement is the first global partnership inked since the company established a new business division called Food & Nutrition Tech to nurture four future growth engines: bio degradable packaging materials, health supplements, alternative protein and cultured meat. (Yonhap)