Rexpharm (CEO Jeong Sang-yun) and Timely Basket (CEO Leighann Choi) have signed a Memorandum of Understanding (MOU) to establish a collaborative framework for joint development and sourcing of health functional foods, marking Rexpharm's official entry into the U.S. market.
Timely Basket, based in the U.S., specializes in logistics distribution and offline retail (supermarkets) for various Korean products, including Ottogi food items, Namyang coffee, and Moa kimchi, as well as beauty products. The company has been operating for 15 years and is a subsidiary of Ottogi New York and Moa Trading, with a focus on online distribution logistics.
For reference, Rexpharm, founded in 2021 by Park Young-sun, the founder of Onnuri Pharmacy Chain, is a specialized manufacturer in reishi mushroom cultivation technology and health functional foods, dedicated to enhancing global immunity.
The MOU outlines the following initiatives:
- Development and supply of products using reishi mushroom cultivation technology
- Mutual sourcing of health functional foods between Korea and the U.S.
- Entry and operation on Amazon U.S.
- Role of Rexpharm’s Korean factory as a U.S. FDA registration and management agency
Rexpharm's GMP-certified factory in the Iksan Food Cluster, already registered with the U.S. FDA, has been collaborating with Timely Basket since September 2023.
Rexpharm’s facilities include three 4-ton extraction concentrators and a 15-ton fermentation tank, enabling the mass production of beta-glucan and other beneficial components from reishi mushrooms. The company also develops health supplements such as protein & collagen, pure point glutathione, filling point beta-glucan, and iron point supplements, which are currently supplied through pharmacy channels in Korea.
This agreement is expected to lay the foundation for Rexpharm’s entry into the U.S. market through Timely Basket's online distribution and marketing expertise, paving the way for future global expansion.
CEO Jeong Sang-yun of Rexpharm commented, “We are excited about the potential for our reishi mushroom-based products to enter the U.S. market through Timely Basket. This collaboration represents a significant step towards expanding not only in the U.S. but also globally.”
Leighann Choi, CEO of Timely Basket, added, “We are thrilled to collaborate with Rexpharm and introduce their reishi mushroom-based products and health supplements to the U.S. market. The growing influence of K-Culture makes this an opportune moment to showcase a diverse range of Korean health products in the U.S.”
link : https://www.kpanews.co.kr/article/show.asp?category=B&idx=250339
Rexpharm (CEO Jeong Sang-yun) and Timely Basket (CEO Leighann Choi) have signed a Memorandum of Understanding (MOU) to establish a collaborative framework for joint development and sourcing of health functional foods, marking Rexpharm's official entry into the U.S. market.
Timely Basket, based in the U.S., specializes in logistics distribution and offline retail (supermarkets) for various Korean products, including Ottogi food items, Namyang coffee, and Moa kimchi, as well as beauty products. The company has been operating for 15 years and is a subsidiary of Ottogi New York and Moa Trading, with a focus on online distribution logistics.
For reference, Rexpharm, founded in 2021 by Park Young-sun, the founder of Onnuri Pharmacy Chain, is a specialized manufacturer in reishi mushroom cultivation technology and health functional foods, dedicated to enhancing global immunity.
The MOU outlines the following initiatives:
Rexpharm's GMP-certified factory in the Iksan Food Cluster, already registered with the U.S. FDA, has been collaborating with Timely Basket since September 2023.
Rexpharm’s facilities include three 4-ton extraction concentrators and a 15-ton fermentation tank, enabling the mass production of beta-glucan and other beneficial components from reishi mushrooms. The company also develops health supplements such as protein & collagen, pure point glutathione, filling point beta-glucan, and iron point supplements, which are currently supplied through pharmacy channels in Korea.
This agreement is expected to lay the foundation for Rexpharm’s entry into the U.S. market through Timely Basket's online distribution and marketing expertise, paving the way for future global expansion.
CEO Jeong Sang-yun of Rexpharm commented, “We are excited about the potential for our reishi mushroom-based products to enter the U.S. market through Timely Basket. This collaboration represents a significant step towards expanding not only in the U.S. but also globally.”
Leighann Choi, CEO of Timely Basket, added, “We are thrilled to collaborate with Rexpharm and introduce their reishi mushroom-based products and health supplements to the U.S. market. The growing influence of K-Culture makes this an opportune moment to showcase a diverse range of Korean health products in the U.S.”
link : https://www.kpanews.co.kr/article/show.asp?category=B&idx=250339