50 Billion Investment in Seed Research Institute Construction
Job Creation and Economic Revitalization Expected
Damyang County recently signed an investment agreement with Jeonnam Province and EcoFarmTech Co., Ltd. for research and development of onion seeds. [Photo by Damyang County]
On the 23rd, Damyang-gun, Jeollanam-do announced that it recently signed an investment agreement with Jeollanam-do and the agricultural corporation EcoFarmTech Co., Ltd., and discussed detailed matters for project promotion.
This agreement is an investment pact for the construction of an onion and vegetable seed research center worth 5 billion KRW in the Geumseong-myeon area. Jeollanam-do and Damyang-gun will support related administrative procedures, while EcoFarmTech Co., Ltd. will cooperate in creating jobs and promoting regional economic development.
In addition to constructing the research center, EcoFarmTech Co., Ltd. plans to invest approximately 20 billion KRW by 2026 to build seminar rooms, employee accommodations, greenhouses for seed research and development (R&D), and warehouses. They will hold seed evaluation meetings and forums and promote domestic and international distribution and export businesses.
They also plan to conduct onion seed research and development together with SeedOn Co., Ltd., an onion seed development company located in Daegu. SeedOn Co., Ltd. has decided to relocate its headquarters to Damyang-gun for this purpose. Since the early 2000s, SeedOn has been actively engaged in onion seed research and development, including cold-resistant onions, in northern countries such as Kyrgyzstan and Ukraine.
Won Tae-wan, CEO of EcoFarmTech Co., Ltd., pledged, “We will do our best to contribute to the development of Damyang-gun through job creation and revitalization of the onion industry.”
County Governor Lee Byung-no said, “We express our gratitude to the company officials who decided to invest in Damyang. We will spare no administrative support to ensure that the investment proceeds stably and leads to regional development.”
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