According to data released by the Ministry of Agriculture, Food and Rural Affairs, about one out of four South Koreans raised a pet as of 2022. When the first wave of the COVID-19 pandemic swept across the country in 2020, many remote-working single households spent more time at home with their pets. The pet industry valued at 1.9 trillion won ($1.4 billion) in 2015 is projected to reach six trillion won in 2027.
Ildong Foodis said in a statement on April 11 that the Foodis Pet brand was released. The company said the brand's supplement designed to improve immunity has an enormous amount of protein while the product for the intestine contains lactic acid bacteria.
Thanks to the growing number of pet owners, the pet veterinary market is also gaining momentum. According to data released by the Korea Animal Health Products Association, the domestic animal drug market in 2021 reached 1.3 trillion won, up 10 percent from a year ago. In January 2023, CMG Pharmaceutical, a unit of South Korea's CHA biomedical group, acquired ING Medix, a domestic animal nutritional supplement provider.
In South Korea, many pet-related businesses have launched a one-stop pet care store where pet owners can enjoy different facilities with their pets including a pet beauty salon, a pet academy, and a pet hotel. Domestic mobile carrier LG Uplus is offering Dog Behavior Type Indicator (DBTI), a canine psychology test that classifies dogs' characters into 16 different types. After taking the test with 60 questions, dog owners can receive advice and educational programs from professional dog trainers.
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