SLS Bio Co., Ltd. (CEO Young-Tae Lee) announced on February 12 that it had received a designation as an agricultural and fishery product safety inspection agency from the National Agricultural Products Quality Management Service.
This designation officially recognizes that SLS Bio's technical capabilities and quality management system meet public agency standards for testing agricultural and fishery products for hazardous substances, such as pesticide residues and heavy metals. This designation allows SLS Bio to receive and perform relevant testing and inspections from the National Agricultural Products Quality Management Service.
The domestic food inspection market continues to grow, driven by factors such as the expansion of health functional foods, the rise of imported foods, and the government's strengthening of safety management standards. According to the IMARC Group, the domestic food safety inspection market is projected to grow at a CAGR of 7.8%, from approximately KRW 600 billion in 2024 to approximately KRW 1.1 trillion in 2033. The global market is projected to grow at a CAGR of 8.3%, from USD 26.08 billion in 2025 to USD 52.99 billion in 2034.
Building on this designation, SLS Bio plans to gradually expand its food inspection business. It aims to obtain accreditation as a self-quality inspection agency in the third quarter of this year and apply for accreditation as a specialized food inspection agency in the fourth quarter, aiming for acquisition in the first half of 2027. Through these efforts, SLS Bio aims to grow into a comprehensive food inspection agency encompassing agricultural, livestock, and processed foods.
CEO Lee Young-tae said, “The designation as an agricultural and fishery product safety inspection agency will be a turning point for our entry into the specialized food inspection business,” and added, “Along with the recovery in the pharmaceutical quality inspection sector, we will diversify our business structure by adding food inspection and in vitro diagnostic (IVD) businesses to ensure stable sales and profitability in the mid- to long-term.”
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