The domestic largest-scale smart farm complex project, "Chungnam Global Horty Complex (Agricultural Bio Complex)," promoted by Kosdaq-listed Wooridumji Farm, has made significant progress. The project, which had been delayed due to issues with finalizing the land purchase agreement, is now set to accelerate as these issues have been resolved.
On June 2, Wooridumji Farm announced that, through its subsidiary Nine Farm, it had signed a sales contract on May 30 to acquire 152,135.2 square meters (approximately 46,000 pyeong) of land from Hyundai Engineering & Construction for 15,153,000,000 KRW.
In December of last year, Wooridumji Farm announced plans to make a large-scale investment in the Seosan Agricultural Bio Complex in South Chungcheong Province and to establish a special purpose company (SPC) for this purpose.
This project involves a total investment of over 330 billion KRW to create the nation's largest smart farm agricultural bio complex, covering an area of 150,000 pyeong. The funding will come from direct investments by South Chungcheong Province and Seosan City, a regional revitalization investment fund, and private capital.
Wooridumji Farm, as a major shareholder of the established SPC, has taken on the role of overall project management. Of the total project cost, approximately 90 billion KRW has been allocated to build the core facility of the agricultural bio complex?a state-of-the-art semi-closed glass greenhouse for the smart farm.
With the land purchase agreement now finalized, Wooridumji Farm plans to fully launch the project and accelerate the development of the smart farm site.
Wooridumji Farm expects to produce over 6,000 tons of fruits and vegetables annually at this site, thereby securing a stable supply chain. The company also projects that this will generate approximately 30 billion KRW in new annual sales.
A Wooridumji Farm representative stated, "As this Seosan Agricultural Bio Complex project is the largest smart farm complex in the country, it will be a significant milestone not only for the industry but also for Wooridumji Farm itself. As the project moves forward, we will do our utmost to ensure its successful completion."
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