<From left to right: Cubitory CEO Soo-Bum Lee and Korea Dispensary CEO Sung-Seok Kang take a commemorative photo after signing the agreement>
Korea Dispensary (CEO: Sung-Seok Kang) and Cubitory (CEO: Soo-Bum Lee) announced that they signed a business agreement on June 14th at Cubitory’s headquarters to establish a healthy hemp industry ecosystem.
Korea Dispensary is a corporation established by the Korea Medical Cannabis Organization (hereafter referred to as the Organization). The Organization is a private think tank that participated in the amendment of the ‘Narcotics Control Act’ and the UN Convention on Controlled Substances in 2018.
Cubitory is a company specializing in eco-friendly technologies and products made from hemp, operating the hemp product brand ‘HEMPLEE’ and the online shopping mall ‘HEMPMALL’.
Korea Dispensary has been conducting research on standard substances* of hemp components and has entered into this business agreement with Cubitory to build a healthy hemp industry ecosystem in Korea and Asia.
*A standard substance of hemp components: A highly purified standard substance obtained by refining a raw material with a known composition and content or specially manufactured for specific purposes.
Cubitory manufactures a variety of eco-friendly hemp products such as clothing, cosmetics, and food. They are accelerating the renewal project of their hemp brand HEMPLEE, which began in 2005. They are also expanding the use of hemp materials in the beauty and health sectors through technology development in the construction materials field for hemp saunas.
The main contents of this agreement include establishing a healthy hemp industry ecosystem, sharing research data on hemp/cannabis components libraries, and mutual cooperation for the amendment of advanced related laws.
Korea Dispensary is a full member of the ASTM (American Society for Testing and Materials) Cannabis Committee, which includes participation from the United States Pharmacopeial Convention and other institutions.
Sung-Seok Kang, CEO of Korea Dispensary, stated, “We expect that sharing the knowledge and experience of both companies through this agreement will allow the hemp industry in Asia to take a significant leap forward. There was a news report that more than 100 domestic patients applied for euthanasia in Switzerland. I have a vision to establish medical facilities for these patients and their families within the Martyr Kang Eun-Young Memorial Association, which I belong to, and introduce an advanced system that can co-prescribe painkillers and medical cannabis.”
Cubitory was selected as an outstanding company in the 13th batch of the Youth Startup Academy by the Small and Medium Business Administration in 2023. Soo-Bum Lee, CEO of Cubitory, said, “I believe the era of hemp, a truly eco-friendly material that can replace chemical materials, has begun. I am convinced there is a reason why the hemp culture has existed for thousands of years in Korea. Amidst the global climate crisis, I believe the wisdom passed down by our ancestors could be the solution, so I chose hemp as the material for our business. The broad category of cannabis is obscured by the term ‘hemp,’ but we intend to address these issues from the perspectives of health and eco-friendliness. I believe this agreement with Korea Dispensary will create tremendous synergy in that regard.”
About Korea Dispensary
Korea Dispensary is a corporation established by the Korea Medical Cannabis Organization, the first private think tank in Asia to pass the ‘Medical Cannabis’ law in 2018. The Organization participated in the amendment of the ‘Narcotics Control Act’ and the UN Convention on Controlled Substances in 2018. Korea Dispensary is a full member of the ASTM (American Society for Testing and Materials) Cannabis Committee, which includes participation from the United States Pharmacopeial Convention and other institutions.
Website: https://koreadispensary.com/
