|▲ INCR.EDIBLE / CEO Son Won-ik|
The global economy, such as COVID-19, war, and environmental pollution, has fallen into a melting pot of unpredictable chaos. A product that worked well yesterday may go bankrupt tomorrow, or a sudden event may seriously disrupt your business. Now, companies are required to change their paradigm to ‘sustainable’ management rather than the old ‘growth-oriented’. ‘Sustainable management’, that is, ESG, refers to management that does not undermine Governance that harms the Environment and Society. The core of ESG management is to protect the environment, contribute to society, gain trust through transparent information disclosure, and prepare measures to deal with risks that may arise. ESG management not only has a good image, but also serves as an investment standard for investors, and Larry Pink, the CEO of BlackRock, the world’s largest asset management company, said in 2020 that from now on, we will use corporate sustainability as our investment decision criterion. For this reason, many companies are currently shifting their management paradigm to ESG management, and the number of founders who have established ESG management has increased. Among these, INCR.EDIBLE(Incredible hereafter) is the only ESG food tech innovative company in Korea.
Winning SMEs and Startups Ministerial Prize at Innovation Winner 2022
Received high evaluation in corporate management, R&D, productivity and quality improvement, and corporate performance and value creation
On October 27th, the ‘Innovation Winner 2022’ awards ceremony was held at the national press room on the 20th floor of the Korea Press Center. This awards ceremony was hosted by the Herald Economy and the Korea Herald and managed by monthly PowerKorea. Incredible received the Minister of SMEs and Startups Prize from the judges, receiving a superior evaluation than other companies in four areas: ∼Corporate management ∼R&D ∼Productivity and quality improvement ∼Corporate performance and value creation. It was highly evaluated by the judges in terms of good ingredients, management philosophy for mankind, sincere product power, and production of 100% plant-based and eco-friendly products.
FOR US, FOR EARTH
Creating a sustainable lifestyle
Granola is a type of cereal that is baked in an oven by mixing oats, barley, brown rice, corn, and other grains and nuts as one of the original breakfast dishes. In 1869, James Caleb Jackson, who ran a nursing home in New York, USA, developed the first cereal called granular, and John Harvey Kellogg, who is famous among Koreans as a cereal, made corn flakes for easy eating. Afterwards, granular was sold under the name of granola after several modifications to make it easier to eat. In Korea, it was not famous compared to corn flakes or other cereals in the past, but recently it is known as a healthy food and is attracting attention from health-aware customers. With the slogan of ‘FOR US, FOR EARTH’, a food tech company Incredible is innovating a healthy world by creating healthy and sustainable food and lifestyle for mankind and the earth with the philosophy of ‘our health is the health of the earth’ together with this granola. CEO Son Won-ik is the one who caused a major innovation in the domestic granola industry with the brand ‘Granology’. In 2015, many cereals were already distributed in Korea and loved by people, but granola was still not of interest to people. In response, CEO Son introduced the premium granola ‘Granology’ to pioneer a new and healthy food culture in Korea.
Top quality 100% plant-based superfood
Premium homemade granola: Granology
Granology is the first premium homemade granola specialty brand in Korea that is baked by professional granologists with a unique recipe researched on its own. Granology, made with carefully selected raw materials of 100% plant-based superfoods, is 100% handmade. In general, granola is made by aggregating grains with honey or syrup, but granology uses 100% pure maple and unrefined natural sugarcane to give it a healthy sweet taste. In addition, it does not contain any flour, butter or refined sugar, and does not contain any chemical additives such as genetically modified, synthetic flavorings, food preservatives, and sweeteners. Incredible, which succeeded in catching two rabbits of ‘health’ and ‘taste’, has become the only domestic granola company to successfully enter the Amazon USA store. The ‘Greek Yogurt & Granola’ products sold at Starbucks Korea stores are also OEM products produced and supplied by Incredible. In addition, Incredible has been recognized for its outstanding product power by entering Lotte Signiel Hotel and Grand Hyatt Hotel. Granology is also gaining explosive popularity with the public by writing a new record of selling out 10,000 sets at Lotte Home Shopping’s ‘Choi Yu-Ra Show’ for the fourth time in a row. Granology is the first domestic granola brand to acquire the FSSC22000 food safety system certification from the Korea Food Safety Association, as well as the Ministry of Food and Drug Safety HACCP certification, ISO22000 international certification, and HALAL food international certification for its high standard.
Expanding the scope to meat substitutes, milk substitutes and eggs
Excellent customer services
Following the commercialization of ‘Granology’, the first plant-based granola brand in Korea, Incredible has been directly researching, developing, and manufacturing alternative meat, alternative milk, alternative egg, alternative bakery, health functional food, HMR, and CMR. To this end, the company developed a smart spreader and automatic crushing machine that increased production efficiency by more than 10 times for the first time in Korea through R&D, and also invented and developed a smart tunnel roaster. These developments are in the process of acquiring innovative technology patents, and the company is equipped with a mass production automation system and is building A to Z manufacturing platform solutions for on/offline B2C, B2B, B2G, and OEM&ODM. In addition, the company plans not only to sell products, but also to take responsibility for customer follow-up. In line with the modifier of ‘Food Tech’, Incredible introduced a service that curates customized health food based on AI and big data, not just selling products, but taking care of customers even after they purchase the product. As part of this, the company collaborated with a medical big data analysis company to launch the brand called The Incredible ‘Foodison’. ‘Foodison’ is developing a highly personalized platform by analyzing medical AI big data information. CEO Son says “Humans have to eat to live, and to make money is to eat good food. So, from morning to evening, from 0 to 100 years old, let us make people’s lives happy. Let’s innovate the world with our food. That is our motto!”
Korea’s only ESG food tech innovative company
Great food comes from great raw materials
Incredible specializes in plant-based health alternative food, and is equipped with an All-in-One-Stop vertical system from R&D, raw material sourcing, product development, ESG smart manufacturing using solar energy and renewable energy to self-brand sales using its own distribution network. It is the only ESG food tech innovative company in Korea. Incredible, which prioritizes protecting valuable things for the earth and humans, creating necessary things and fulfilling corporate social responsibilities, is developing source materials for sustainable and safe ingredients. The company introduced a health functional food solution that can provide a one-to-one customized healthy diet, and is striving to secure technologies such as cell culture, gene analysis, plant protein culture and extraction, plant protein shape implementation manufacturing and blending recipe. In particular, the smart factory recently built by Incredible is the first factory in Korea to procure all electricity with renewable energy through solar panels. The company is spurring eco-friendly ESG management by leading eco-friendly energy (solar heat), eco-friendly raw materials, and upcycling food, such as establishing the ‘Food Tech Technology Research Center’ to foster and secure food tech experts.
Incredible is also taking the lead in social contribution by donating about 50 million won worth of products to the Hyangrim Rehabilitation Center in July last year, giving a warm sound to society. The donated items include 500 granola 220g 5-piece sets, 100 nuts signatures, and 40 nuts roasted products so that children in rehab can grow up properly with a healthy diet.
As such, Incredible is an ESG food tech company, reducing carbon emissions and providing safe and healthy food amid the global food security crisis. Through various activities in our society and efforts to respond to climate change, the company is taking the lead in implementing CSR, responsible management, and improvement of governance as an eco-friendly and social enterprise. In recognition of these contributions, CEO Son was honored with the Minister of SMEs and Startups Prize at the ‘Innovation Winner 2022’. Son says “We will contribute to the environment of the earth and mankind around the world by producing and supplying sustainable, 100% plant-based, eco-friendly products through Incredible’s management philosophy of ‘Great food comes from great raw materials’ as well as our sincere best product power.”