500 Billion Won Investment
Construction of a State-of-the-Art Processing Plant
Goheung County in South Jeolla Province (Governor: Gong Youngmin) announced on the 26th that it had signed a private development investment agreement (MOU) worth 50 billion won with Kwangcheon Seaweed Co., Ltd. (CEO: Kim Jaeyu), a leading domestic seaweed industry company, at the Palyongsan Hall of the county office on the 25th. The county pursued this agreement to maintain its reputation as the nation’s largest producer of raw seaweed.
On the 25th, Goheung County signed a private development investment agreement worth 50 billion KRW with Gwangcheon Kim Co., Ltd., a leading domestic seaweed industry company, at the Palyongsan Hall in the county office. Provided by Goheung County
The agreement includes a plan to invest 50 billion won in the Janggyeri area of Doyang-eup, Goheung County (85,000 square meters) to establish a state-of-the-art seaweed processing plant and foster the area as an export-specialized agro-industrial complex for seaweed.
In particular, it is expected to create stable local jobs for 150 to 200 people annually and to invigorate the Goheung seaweed industry by establishing an industrial system that encompasses production, processing, and distribution.
Kwangcheon Seaweed Co., Ltd. is an anchor company in Korea’s seaweed industry, recording sales of 350 billion won as of 2024 and operating a distribution network that exports to over 50 countries worldwide. Through this new investment, Goheung County is expected to maximize synergy effects by establishing itself as a strategic export base in line with the globalization of seaweed.
Governor Gong Youngmin emphasized, “Until now, there have been limitations in the process from primary processing to secondary processing and distribution, but with Kwangcheon Seaweed’s bold investment, Goheung seaweed will reach dining tables around the world, further solidifying Goheung’s status as the mecca of Korea’s seaweed industry.”
Kim Jaeyu, CEO of Kwangcheon Seaweed Co., Ltd., stated, “With a recent surge in product orders from overseas buyers, Goheung is the optimal location for the seaweed industry. Our goal is to achieve annual exports of 150 billion won using seaweed produced in Goheung, equipped with the latest facilities, and to develop Goheung into Korea’s premier export base sought after by buyers worldwide.”
Meanwhile, the county will actively pursue the expansion of the “Goheung Seaweed” and “K-Seaweed” markets through vertical integration from raw seaweed production to processing, distribution, and export. Through this, the county aims to vitalize the Goheung seaweed industry and increase farmers’ income, and plans to apply to South Jeolla Province in October for designation as a specialized export agro-industrial complex for seaweed. After consultations with relevant agencies on the industrial complex plan, construction is scheduled to begin in the first half of 2027.
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