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

From left) Director Yoo Je-soo of Shinlee, Director Jin Jae-nam of the Korea Halal Certification Institute, Director Jeong Yi-ho of the Korea Halal Association, Director Jeong Seung-ho of Shinlee. Photo courtesy = 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 in products such as food, cosmetics, clothing, and medical services. The volume of online transactions of halal products is expected to grow at an annual average of 5.5%, with only halal cosmetics and personal care products worldwide expected to be $3.5 billion in 2031.

In addition, Shinlee, the Korea Halal Certification Institute, and the Korea Halal Association announced that they will jointly develop a new overseas remittance service through Show+ Bank so that Muslim workers dispatched abroad can transfer their salaries to their home countries at a simple and lowest fee, and establish a separate joint venture for this purpose.

Choi Yong-seok, Dong-A Ilbo reporter, duck8@donga.com