24 Mar 2015

Deer industry signs with Korean Ginseng Co

4:20 pm on 24 March 2015

The deer industry may have missed out on getting the bulk of its deer antler exports to South Korea included in the free trade agreement signed this week.

But it is taking other steps to increase the value and demand of the deer velvet trade to its oldest and still most significant market.

One of those is signing an agreement with the biggest user of New Zealand velvet there, the Korea Ginseng Corporation.

The company has developed a children's tonic that has become a household name in Korea. It takes about 8 percent of New Zealand's velvet production.

The agreement, which Deer Industry New Zealand's chief executive, Dan Coup, signed yesterday, would give the Ginseng Corporation access to research to help it develop more products containing New Zealand deer velvet.