[15 November/Radio New Zealand]

South Korea’s largest pharmaceutical company, Yuhan Corporation, signed a deal to launch a range of New Zealand deer velvet products. Yuhan Corporation signed a memorandum of understanding with Deer Industry New Zealand, and entered agreements with AgResearch and Alpine Deer Group. The pharmaceutical company plans to develop health food products and supplements made with New Zealand deer velvet, as deer velvet is said to ease fatigue, counter stress and boost the immune system and people’s general well-being. Deer Industry New Zealand Chief Executive Dan Coup said the deal is an important and significant step up for the New Zealand deer industry. Yuhan Spokeswoman Ashley Chung said New Zealand deer velvet, over other country sources, is much more valuable to the company and Yuhan would be investing $1.5 million, at least, in research with AgResearch.