Jeju Island and Dongwon F&B Accelerate High Value-Added Processing of Jeju Seafood

Securing Supply and Sales Systems to Promote Increased Income for Fishing Villages

Jeju Province signed a win-win development business agreement with Dongwon F&B Co., Ltd. for the production, distribution, and sales of Jeju seafood and processed foods at Samda Hall in the provincial government building at 11 a.m. on the 9th. Photo by Jeju Province

Jeju Special Self-Governing Province has joined hands with Dongwon F&B Co., Ltd. (CEO Kim Sungyong), a leading comprehensive seafood food company, to strengthen the competitiveness of Jeju's fisheries industry.

On the morning of the 9th, Jeju Province signed a "Mutual Growth Business Agreement for the Production, Distribution, and Sales of Jeju Seafood and Processed Foods" with Dongwon F&B at Samda Hall in the provincial government building.

Dongwon F&B is a representative comprehensive seafood food company in Korea, producing and selling a variety of products such as canned tuna, seasoned seaweed, processed seafood products, ready-to-eat meals, dairy products, and beverages. Jeju Province and Dongwon F&B will work together for mutual growth to enhance the value of Jeju seafood.

The two parties agreed to cooperate throughout the entire process, from production to processing, distribution, and sales of Jeju seafood. The main areas of cooperation include: ▲ Industrialization of seaweed through mutual utilization of Jeju's excellent resources and technology ▲ Promotion of a Blue Food Tech-based Smart Processing Center for Jeju seafood ▲ Development and sales of processed foods using Jeju seafood ▲ Planning of collaboration products utilizing the Jeju agricultural and seafood brand ▲ Discovery and promotion of additional projects in line with the purpose of this MOU, among others.

Through this agreement, Jeju's clean marine resources will be combined with Dongwon F&B's advanced food manufacturing technology. Both parties plan to actively promote the industrialization of seaweed, as well as the development of high value-added processed seafood products.

Governor Oh Younghoon stated, "At a time when Jeju is transforming from a tourism-centered city to an environment favorable for business management, cooperation with Dongwon F&B is highly meaningful," and emphasized, "If Jeju's abundant marine resources are combined with Dongwon F&B's technological prowess, new value can be created in the fisheries industry." He added, "Based on recent achievements in seaweed farming such as Sargassum cultivation, I hope to see cooperation expanded to the laver farming sector as well."

CEO Kim Sungyong said, "Jeju's natural resources and premium image are competitive advantages that cannot be matched by other regions," and added, "Through this agreement, we will develop healthy products using Jeju's specialty products and lay the foundation for entry into the global market."

After signing the agreement, both sides also discussed concrete cooperation measures, such as supporting Dongwon F&B employee workation programs and conducting plogging activities to preserve the marine environment.

Jeju Province plans to further enhance the added value of Jeju's fisheries industry by expanding collaboration with domestic companies, including Dongwon F&B, and fostering a seafood food industry based on Blue Food Tech.