Danish probiotics company Biocare Copenhagen will enter the Korean market by partnering Korean health food manufacturer and distributor Health Balance.

Biocare is Denmark’s leading biotech firm specializing in microbial compounds: probiotics, dietary fibers, microbial lysates and medical devices.

Based in Copenhagen, the joint-venture enterprise collaborates with Copenhagen University Hospital’s research and development centers and clinical facilities. For the last 20 years, the company has developed market-leading probiotics targeting gastrointestinal disorders, infections and immunity. 

The firm was established in 2012 with support from the Danish Ministry of Science, Technology and Innovation. It currently occupies over 62 percent of the domestic pharmaceutical market and operates in 35 countries, making use of diverse distribution channels, such as local pharmacies, home-shopping and online sellers.

Health Balance will introduce four Biocare products as its exclusive distributor, with more to be released in the future.

“Trade between Denmark and Korea has expanded exponentially over the last couple of years,” Danish Ambassador Thomas Lehmann said at a press conference marking the launch on Friday, with the Danish Health Ministry permanent secretary Per Okkels, Biocare Copenhagen CEO Soren Thomsen and Copenhagen University Hospital MD Michael Tvede participating.

The surge in Danish exports to Korea has covered a wide range of products, including industrial sub-supplies, machinery and equipment, agricultural products and foodstuffs and pharmaceuticals, the ambassador added.

In the first half of this year alone, Danish exports to Korea grew by more than 50 percent compared to last year, and on-year exports increased by 20 percent. More and more Danish companies are utilizing the free trade agreement between the European Union and Korea, Lehmann noted.

By Joel Lee (joel@heraldcorp.com)