Gyeongbuk Province Establishes 'Salmon Farming' Smart Cluster in Pohang ... Secures 22 Billion KRW in National Funding

Global Salmon Market Worth 67 Trillion Won Annually, Comparable to Semiconductors... Long-Term Plan to Promote Private-Led Development in Il-dae Myeon

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Gyeongbuk Province and Pohang City have officially entered the smart aquaculture industry targeting the 'salmon market.' With the inclusion of the 'Pohang Smart Aquaculture Cluster' project in next year's national budget, it is expected to bring revolutionary changes to the existing aquaculture industry.

According to Gyeongbuk Province on the 10th, from next year until 2025, a total project cost of 40 billion KRW will be invested in a 230,000㎡ area in Janggi-myeon, Nam-gu, Pohang City, including 22 billion KRW from the national government, 12 billion KRW from local government, and 6 billion KRW from the private sector. This project will be promoted as a private-led initiative.

The project is expected to break ground next year after spending 1.5 billion KRW on feasibility studies and design. The cluster will be equipped with a smart aquaculture testbed incorporating cutting-edge 4th Industrial Revolution technologies such as recirculating filtration systems, artificial intelligence (AI), Internet of Things (IoT), and big data, as well as large-scale farms, processing facilities, distribution, and sales facilities.

The species to be produced in the large-scale smart aquaculture farm has been decided as salmon. The global market size for salmon reaches 67 trillion KRW annually, comparable to the semiconductor market. Although domestic salmon consumption amounts to 45,000 tons and 500 billion KRW annually, it is almost entirely dependent on imports.

Lee Cheol-woo, Governor of Gyeongbuk Province, stated, "Now, revolutionary changes such as applying smart technology to the fisheries sector are necessary to win in competition," and expressed his determination, saying, "Through the smart aquaculture cluster, we will develop the aquaculture industry into a new advanced industry and make it a growth engine for the region."