Korean food tech startup Simple Planet has received ₩11B ($8.1M) for a government project to boost food security, and targets regulatory approval for its cultivated meat ingredients next year.

“Simple Planet is applying for regulatory approval from the Ministry of Food and Drug Safety, aiming for approval in the first half of next year,” co-founder and CEO Dominic Jeong told Green Queen. The company will sell products under its Balboa Kitchen brand.

Source: Simple Planet Eyes 2025 South Korea Approval for Cultivated Meat