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South Korea: Investment made into Smart Farm complex

Udeumji Farm has decided to invest in the 'Chungnam Global Horti Complex (Agricultural Bio Complex),' the largest smart farm complex to be established in the country, and will establish a special purpose company (SPC) for business promotion, it noted on the 11th.

The total project cost of the Chungnam Global Horti Complex is more than 330 billion won, which will be funded by investment from Chungcheongnam-do and Seosan City, regional revitalization investment funds, and private investments. Udeumji Farm will play a practical overall business role through the SPC in which it is a major shareholder.

Udeumji Farm will build a glass greenhouse smart farm on a site of 46,000 pyeong out of the 120,000 pyeong designated for smart farm development. It plans to start tomato cultivation in the second half of 2025 after completing the facilities in the first half.

Kim Ho-yeon, chairman of Udeumji Farm, said, "This investment decision is a practical start to the greenhouse expansion plan we have been committed to. We expect to produce more than 6,000 tons of vegetables annually and generate new sales of over 30 billion won."

Source: ChosunBiz EN

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