It has become commonplace to make sure to get protein when eating. You can easily find protein drinks in various flavors, such as chocolate, sweet potato, and strawberry, at nearby convenience stores.
But consumers still complain about the "fishy taste." That is because most domestic protein products use soy or whey protein as raw materials. Many consumers feel put off by the distinctive smell of proteins derived from beans or milk.
To solve this problem, a Start - Up is making protein from rice by-products with "no taste and no smell." It is Rice Value, founded by CTO Jeong Gwang-ho, who served as a senior researcher at the CJ CheilJedang Food Research Institute, a member of the Agricultural Food Science and Technology Committee at the Ministry of Agriculture, Food and Rural Affairs, and the head of the research institute at the Cheongwon Saengmyeong Nonghyup Rice Cooperative Joint Business Corporation.
"Older adults often skip meals because chewing is difficult or they have no appetite. At those times they take protein supplements, but some feel put off by the fishy taste of whey protein extracted from milk. We thought we should make protein foods with ingredients more familiar to the older generation, for whom meals are directly tied to health."
The key to Rice Value is the by-product "bran (rice bran)" produced during rice milling. Rice bran is rich in nutrients but turns rancid quickly, making it hard to use as a food ingredient. To overcome this, Rice Value developed its own SCR (Separation·Concentration·Refining) process and succeeded in extracting high-purity protein from rice bran.
To stabilize its raw material supply chain, the company signed agreements with three entities, including Cheongwon Saengmyeong Nonghyup, to secure a stable supply of rice bran. It also began producing rice syrup itself to reliably obtain rice by-products generated during the rice syrup manufacturing process.
"The reason upcycling Start - Ups find it hard to grow is unstable sourcing of raw materials. Rice Value plans to build out the entire process from sourcing to cold and frozen storage and end-to-end processing."
Rice Value currently produces domestic rice protein powder with a purity of over 80%. At around 12,000 won per kilogram, it is cheaper than imported soy protein (about 18,000 won per kilogram), giving it strong price competitiveness. It is now supplying protein raw materials to food manufacturers and plans to diversify into products such as rice protein drinks, protein bars, protein-fortified rice, and rice ice cream.
The domestic protein food market is valued at 450 billion won as of 2025. Among that, the protein raw material market is estimated at about 50 billion won. CTO Jeong expected that "as the need to replace imported protein gradually increases, the need for domestic protein raw materials will grow even more."
Recently, Rice Value also attracted investment from CNT Tech after its potential to produce plant-based protein was recognized. This year, it also took part in the TIPS (Tech Incubator Program for Startups) support program.
CTO Jeong emphasized the "versatility of rice" as a food resource. "The era of consuming rice only as steamed rice is over. Now we should view rice as a functional material. In an era when food security is becoming more important, protein based on domestic raw materials will become a key resource for a sustainable industry."