Good Neighbor Global Impact, represented by Hyun Jin-young, announced on the 29th that they will jointly pursue the edible insect smart farm business in Vietnam with VandalSoft, a company specializing in edible insect smart farm technology, represented by Lee Bong-hak.
Both companies plan to establish insect smart farms utilizing VandalSoft’s technology in Vietnam and engage in the production and distribution of insect protein, which is gaining attention as an alternative protein source. Vietnam provides an optimal environment for insect farming with a climate of around 30-40 degrees Celsius and humidity of 60-80%, and it is also conducive to exporting to neighboring Southeast Asian countries and the European market.
Good Neighbor Global Impact has been supplying safe food to local communities and promoting increased income for participating residents through operating social enterprises and various cooperatives in agricultural distribution in Vietnam since 2018. In addition to these efforts, they plan to actively pursue impact businesses for climate change adaptation and food crisis mitigation through this joint venture with VandalSoft.
VandalSoft possesses insect smart farm technology that can be tailored to manage insects according to their growth stages based on breeding data. For this joint venture, VandalSoft plans to develop a customized smart farm model for Vietnam and establish it locally.
Both companies aim to initially utilize the insect protein produced through this joint venture in pet and livestock feed and subsequently aim to commercialize it for various industries such as pharmaceuticals, biotechnology, and beauty, not only as a substitute for protein in food but also as a versatile material.