Korean food giant Daesang is to develop a range of cholesterol-lowering foods, such as cooking oil and mayonnaise, containing Israeli firm Enzymotec's canola-based MultOil.
The range, set to launch early next year, will increase Daesang's share in Korea's fast-growing health foods market by 10 per cent, said the company.
"During the past year, we have developed an advanced functional line, that can improve diet and helps to maintain a healthy lifestyle, while fighting 'bad' cholesterol. Daily dosage, stability of the final formulation and its good appearance, were all addressed in order to meet consumer needs," said Keumsoo Han, head of R&D at Daesang.
Enzymotec launched MultOil earlier this year and has been looking to expand the product in global markets. The natural oils have been enzymatically upgraded to have high content of phytosterol-esters (25 per cent) and DAG (15 per cent). A unique grade of the oil has been developed for use in Daesang's range.
"The importance of this agreement lies in the opportunity to expose a high quality ingredient to the dynamic Korean market, together with the freedom to conduct businesses over a range of applications and target markets," said Ariel Katz, CEO of Enzymotec.
With more than $900 million in annual sales, Daesang is a major player in the Korean market and one of the global manufacturers of amino acids and nucleotides.