Gangwon State·Gangwon TP Regional Industry Development Project Drives Growth at Hoengseong’s WELLFINE

【Hoengseong County—Kim Ki-seop】The regional industry development project promoted by Gangwon State and Gangwon Technopark (Gangwon TP) is laying the foundation for corporate growth by leading to technology development, commercialization and job creation at local companies.
The Regional Industry Development Project is a flagship balanced-development initiative led by the Ministry of SMEs and Startups under regional industry promotion plans established by 14 non-metropolitan cities and provinces. It supports small and medium-sized enterprises at each stage of growth, from technology development and commercialization to growth promotion, with a focus on regional key industries. For local companies that face poorer research and development conditions and a smaller talent pool than those in the Seoul metropolitan area, the project serves as a reliable support system that provides the assistance needed at each stage of growth.
The results of the regional industry development project are also clear in the figures. Last year, Gangwon’s Regional Industry Development Project generated KRW 82.914 billion in commercialization sales and 237.36 new jobs, achieving 169.3% and 103.6% of the respective targets. The sales and employment results far exceeded expectations, showing that regional key industries are translating into actual corporate revenue and jobs. One of the companies representing these achievements is WELLFINE, a specialist in original equipment manufacturing (OEM) and original development manufacturing (ODM) for health foods and health functional foods, based in Hoengseong County.
Founded in 2009, WELLFINE moved its headquarters and production plant to Hoengseong County in 2017. It faced obstacles at every stage of its growth. The main challenges included the burden of investing in research and development amid intensifying market competition, dependence on imported ingredients and a shortage of local workers. WELLFINE has addressed these challenges one by one, using the Regional Industry Development Project as a foundation for support.
First, the company focused on adding value to domestic natural resources through research and development support. Key examples include developing an inner-beauty ingredient using mealworm larvae and evaluating the functionality of hydroponically grown Centella asiatica. WELLFINE is strengthening its research and development system, from ingredient discovery and functional evaluation to the establishment and standardization of marker compounds and the assessment of formulation and product applications. It is pursuing the internalization and commercialization of ingredient technologies for functional materials based on domestic natural resources. In other words, the company is shifting away from a structure dependent on imported ingredients and securing its own ingredient technologies.
The company also expanded its technology partnerships. Last year, it signed a memorandum of understanding with Bigsum Bio, a specialist in natural-material-based functional ingredients and personalized health functional food solutions, and began jointly developing an Agastache rugosa extract aimed at improving alertness and concentration. The two companies have completed human application trials of the Agastache rugosa extract and are pursuing the establishment of functional evidence and commercialization of the ingredient based on the research results.
Through this work, WELLFINE aims to enter the nootropics market, which covers foods and ingredients designed to address demand for managing everyday cognitive abilities such as concentration, memory and mental vitality. Nootropics is considered a rapidly growing global sector as population aging coincides with rising interest in learning and work efficiency.
The results of technology development quickly led to sales and commercialization. Through support for activities beyond research and development, WELLFINE secured packaging materials for premium prototypes intended for sales and used them to strengthen sales and commercialization efforts targeting client companies. WELLFINE currently works with more than 200 clients in the health food and health functional food sectors, carrying out various OEM and ODM projects. Building on this business base, it has steadily expanded its operations each year.
These achievements in technological innovation and commercialization led to tangible growth. Last year, WELLFINE surpassed KRW 50 billion in sales for the first time since its founding. Sales increased 18.9% year on year, while exports rose 83.3%. The company also received the USD 5 Million Export Tower Award, gaining external recognition for its technology development and commercialization achievements.
Building on this growth, WELLFINE is accelerating its push into overseas markets. The company established a global business team and participated with an independent promotional booth in Vitafoods Asia 2026, held from the 2nd to the 4th at the Queen Sirikit National Convention Center in Bangkok, Thailand. Targeting major Asian markets including Vietnam, Thailand, Indonesia and China, it introduced products and ingredients incorporating its proprietary technologies, as well as its OEM and ODM capabilities, while seeking new buyers and expanding its export markets. Through these efforts, WELLFINE plans to strengthen its position as a total-solution company for health functional foods, covering product development, ingredients, production and commercialization.
One particularly notable aspect of WELLFINE’s growth is its creation of jobs for young people. Last year, employees aged 34 or younger accounted for 53.4% of the company’s total workforce, contributing to the employment and settlement of young workers in Hoengseong County, a population-decline area. The fact that young people make up more than half of the workforce in a rural area experiencing severe youth outmigration is particularly noteworthy.
WELLFINE is also working to improve working conditions so that young and skilled workers can settle in the region. To recruit and retain local workers, it operates various welfare programs, including housing support through dormitories, shuttle buses, meals and health checkups. It also supports enrollment in savings and mutual-aid programs that help employees remain with the company long term and build assets, including the preferential savings deduction program for incumbent employees, the Gangwon-type Job Security Mutual Aid Program and the Hoengseong-type Job Security Mutual Aid Program.
Through welfare programs covering housing, transportation and asset building, WELLFINE is creating working conditions that enable young and skilled workers to settle stably in Hoengseong County. In recognition of these achievements, it was selected as a Youth Employment Strong Company by the Ministry of SMEs and Startups and received an Excellence Award at the Gangwon State Job Awards.
Follow-up investment is also continuing as the company grows. WELLFINE is expanding its second plant in Hoengseong County and pursuing the construction of a third plant, increasing the scale of investment beyond its initial plan. As a result, it also plans to hire additional workers. The expansion of production facilities is creating a virtuous cycle by directly leading to more local jobs.
WELLFINE’s case shows that support for technology development and commercialization can lead not only to higher corporate sales and exports, but also to the creation of jobs for young people and follow-up investment. In particular, the company is regarded as a leading growth case under the Regional Industry Development Project because it is growing through technological innovation in a population-decline area and extending the benefits to the employment and settlement of young and skilled workers.
Son Il Kwon, CEO of WELLFINE, said, "The support program served as a catalyst, connecting the company’s ideas to market sales and employment." He added, "We will become a company that puts people at the center and grows together with the region."
fn—Jointly planned by Gangwon Technopark
[email protected] Kim Ki-seop Reporter