GreenPlus Launches GreenFishFarm Eel Distribution Business in Full Swing... "Expecting Profit Improvement"

[Asia Economy Reporter Hyunseok Yoo] GreenPlus announced on the 31st that its subsidiary GreenFishFarm has launched an eel specialty brand called ‘Dokkaebi Jangeo’.

The eel sold under Dokkaebi Jangeo is the native ‘Japonica’ variety. It is characterized by its thin skin and tender flesh. It is known to be of superior quality compared to imported eel. It is mainly sold in specialty restaurants. GreenFishFarm plans to process the Japonica eel raised in its ‘smart fish farm’ into seasoned and salt-grilled forms for sale.

Through the launch of this brand, GreenFishFarm plans to expand its distribution network from primarily B2B (business-to-business) to B2C (business-to-consumer) to improve profitability. On the 30th, Shinhan Financial Investment researcher Kyuri Kim stated in a GreenPlus investment report, “GreenFishFarm’s (eel farming) sales are expected to increase by 38% to 8.7 billion KRW compared to 2020, recovering from last year’s slump.”

A GreenFishFarm official said, “As the dining industry trend has shifted to untact due to COVID-19, the proportion of consumers purchasing eel online is increasing,” adding, “In response, we plan to supply high-quality eel products that can be conveniently enjoyed at home.”