Lotte Chilsung to tie up with startups for vegan drinks

South Korea’s Lotte Chilsung Beverage Co. is set to start the vegan business along with local startups as veganism, or the practice of abstaining from any animal or animal byproducts, is growing in the country.

Lotte Chilsung said on Monday it was looking for startup partners to develop vegan drinks. The beverage unit of Lotte Group plans to cooperate on new technologies and materials for not only vegan drinks but also overall beverages.

The major beverage maker will provide the startups opportunities for collaboration on research and development, production, logistics and marketing.

Vegans account for only 5% of the South Korean population, but industry heavyweights expected the plant-based population to grow consistently.

Write to Kyeong-je Han at hankyung@hankyung.com
Jongwoo Cheon edited this article.