AVING News interviewed Lee Pan-je, the CEO
of Coby Bio Lab, which participated in the MIK HOT SPOT (Made in Korea Online
Exhibition) Local Economy Stimulating Project.
Please introduce your company briefly.
Hello. This is Lee Pan-je, an oriental
medicine doctor who is the CEO of Coby Bio Lab. Coby Bio is a research
institute-type company that was created in 2017 to make ointment for applying
on the nose needed for Coby Oriental Clinic network.
How did you start the business?
When I first ran Coby Oriental Clinic, I
treated patients by applying ointment on the nose. These external medications
tend to be less effective compared to internally taken medicine, and the smell
of oriental medicine can throw off. So, I thought hard about making the
ointment that smells and feels good.
So, I connected my idea to cosmetics. As I
researched on how to selectively extract effective substances, I was able to
produce many better ointment products. Recently, with the accumulated know-how
of extracting natural substances, we were able to expand our business to food
Please introduce the products.
We are currently focusing a lot on black
ginseng. When ginseng is steamed, it becomes a product called red ginseng. And
if the red ginseng is steamed repeatedly, it turns into black ginseng. The
substances of black ginseng are completely different from that of red ginseng.
Substances not found in red ginseng are
found in black ginseng due to repeated steaming. It is effective for improving
the immune system, preventing obesity, and reducing wrinkles. So, we are
developing a lot of foods that are more beneficial to the body by changing the
formulation to black ginseng. The ones that are recently made the improved
What are your future plans?
As time advances, people seem to become
more and more skeptical about oriental medicine. But, we are extracting active
ingredients from natural products. When active ingredients are extracted from
natural products, the efficacy of the active ingredients can be scientifically
verified. And by the process of standardization, products of a certain quality
can be produced.
Coby Bio has also been working on a more
scientific and standardized work on natural products, and is striving to
consistently create products in a form that consumers who eat real foods can
trust and verify their efficacy.
Last year, we exhibited in overseas trade
shows a number of times, especially to China, Japan, Mongolia, and the Middle
East. We get to analyze the product ingredients and evaluate their efficacy
repeatedly. By presenting scientifically proven data to foreigners, we are
trying to build more trust in oriental medicine products.
Any last words you would like to say?
There are a lot of stories about natural
products that have specific effects. No matter what product it makes, Coby Bio
will analyze the ingredients inside and inform consumers of a more objective
effect. We will do our best to become a company that makes products that are
proven in the market.
The Local Economy Stimulating Project from
Daegu, which supported companies participating in the MIK HOT SPOT (Made in
Korea Online Exhibition) is running as a major national project for balanced
national development. The Local Economy Stimulating Project had been running
since last year to solve the industrial crisis and revitalize the industrial
Especially this year, to support SMEs in
Daegu that are directly hit by COVID-19 and to overcome the local economic
downturn, two areas (automotive parts, cosmetics, and food) in Daegu were
additionally selected to receive 12 billion won of national expenditure for
each project for two years. Daegu is expected to prepare 4.1 billion for the
The global news network AVING News has
begun holding the MIK Hot Spot (Made in Korea Online Exhibition) to help small
and medium-sized companies enter the market and attract investment 365 days a
year. AVING News has been running online exhibitions since 2005 and had 975
online exhibitions so far. Its YouTube online exhibition has placed itself as
Korea's largest online exhibition hall that opens with 19,000 videos (booths)
with more than 800,000 visits per month which means more than 10 million visits
The MIK HOT SPOT online exhibition is
scheduled to be held regularly according to the field, target market, and
participating institutions, and it will be presented as a new type of online
business by transforming the know-hows and values of the participating
companies according to the trend. Companies that want to participate can apply
and apply through the marketing support projects from supporting institutions
in the local governments. Refer to the institutions for more information.