SEOUL PROPOLIS CO., LTD. is a bio-venture company that was inaugurated in 2003 when the Korean government gave its approval for the firms its new technology at the Korea Atomic Energy Research Institute(national nuclear R&D research institution) in the Daedeok Valley research complex. Seoul Propolis has secured cutting-edge radiation technology that can be applied to propolis and they successfully developed the new technology with a collaboration among industry, university and research institute, not to mention, with the support from the Small and Medium Business Administration.