Expanding Beyond Live Eel Farming and Processed Product Sales
to Processing Manufacturing and Online Distribution
Green Plus's subsidiary, Green Fish Farm, is expanding beyond eel farming into distribution and processing businesses.
Green Fish Farm announced on the 31st that it has completed an eel processing plant with an area of 1,653㎡ in Dangjin-si, Chungnam Province, and will begin full-scale operations starting in February. The company expects to achieve sales exceeding 10 billion KRW.
Until now, Green Fish Farm has focused on selling live eels, but with the completion of this processing plant, it will engage in the distribution and processing business by selling primary and secondary processed products as well as supplying large eel specialty chain stores. The business scope has expanded beyond aquaculture to include manufacturing eel processed foods through processing facilities, B2B, and B2C online sales. This enables securing final consumer contact channels through various online and offline distribution networks, as well as developing and supplying processed products that can be conveniently used at convenience stores and homes.
The new business will be conducted as a joint venture centered on Green Fish Farm, collaborating with companies specializing in processing, distribution, and marketing. The combination of expertise from both parties is expected to create synergy effects and firmly establish their market position in a short period.
Green Plus completed all preparations to achieve record performance while resolving subsidiary risks through the full-scale operation of Green Fish Farm's processing plant, following the opening of Green K Farm's smart farm complex research center in December 2023.
A Green Fish Farm official stated, "This new business expansion extends our operations from selling live eels to distributing processed foods, which is expected to significantly drive both sales and profit growth. With the completion of this processing plant, we will further solidify our position as the largest and only smart aquaculture company in Korea possessing all capabilities from eel farming to processing and distribution."
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