Shinlee.ltd., Korea Halal Certification Institute & Korea Halal Association e-commerce business joint venture

From left, Yoo Je-soo, Director of Shinlee, Jin Jae-nam, Director of the Korea Halal Certification Institute, Lee Ho, Director of the Korea Halal Association, Director Shinlee Jeong Seung-ho / Provided by Shinlee.ltd.

Shinlee.ltd., the Korea Halal Certification Institute (KHA), and the Korea Halal Association (KOHA) announced on the 19th that they have signed a memorandum of agreement (MOA) to jointly conduct e-commerce business to find and certify candidates for high-quality halal products at home and abroad so that Muslim consumers around the world can conveniently purchase them.

Halal certification is essential for products such as food, cosmetics, clothing, and medical services. With only halal cosmetics and personal care products expected to be $3.5 billion worldwide in 2031, the volume of online transactions of halal products is expected to grow significantly at an annual average of 5.5%.

Shinlee, the Korea Halal Certification Institute and the Korea Halal Association also agreed to jointly develop a new overseas remittance service through Show+ Bank so that Muslim workers who are dispatched overseas can transfer their salaries to their home countries at a convenient and lowest commission. To that end, they also agreed to establish a separate joint venture.

If the joint project is successful, a large-scale e-commerce site specializing in products that have passed strict halal certification will emerge, allowing Muslim consumers around the world to purchase as much as they want. As a result, Muslim consumers will be able to practice the right consumption life that conforms to Islamic law.

Shinlee said it will reorganize its e-commerce site, Showflamp, which is currently under development, into a site specializing in halal products to expand language and delivery services so that Muslim consumers in the Middle East can purchase it as well as Southeast Asian markets such as Indonesia and Malaysia.

In the future, the three companies will continue to introduce innovative services that can meet the needs of Muslim consumers.