GANGWON-DO < invest Korea

According to Yonhap News,

(CHUNCHEON=Yonhap News) Dried sea cucumbers, which are being sold at the Gangwon Mall located at Gangneung Olympics Park, will be exported to China in the coming months.

The Gangwon Provincial Government recently announced that Korea Wild Sea Cucumbers, a company with its main office in the Sokcho Agro-Industrial Cluster, and China Guangzhou Chuanbo Food Co., Ltd based in Guangzhou, China, signed a new contract on March 14 and agreed on the export of KRW 9.3 billion worth of dried sea cucumbers from Korea to China.

The contract stipulates the immediate purchase of KRW 300 million worth of dried sea cucumbers by March 16, followed by KRW 9 billion worth more to be exported in April through December.

Preceding the signing of the contract was a ceremony marking the establishment of an agreement between the Gangwon Provincial Government and China Guangzhou Zi Hou Long Hai Product Trade Co., Ltd over facilitating the export and import of wild sea cucumbers from Korea to China.

China Guangzhou Zi Hou Long Hai Product Trade Co., Ltd, which operates 15 exclusive sea cucumber retailers in Guangzhou alone, is a major distributor of dried sea cucumbers in China, generating KRW 190 billion a year in annual revenue.

Korea Wild Sea Cucumbers is a leading processor and distributor of dried sea cucumbers in Korea, which boasts of state-of-the-art technology.

Dried sea cucumbers, which were featured in the luxury department of the Gangwon Mall and drew much interest throughout the Pyeongchang Olympics, are expected to become another representative delicacy of Gangwon-do, along with the dried hwangtae pollacks.

The Gangwon Provincial Government plans to provide extensive administrative and financial support for the marketing and distribution of the province’s dried sea cucumbers in China.

Choi Moon-soon, governor of Gangwon-do, remarked: “The provincial government will harness the competitiveness of Gangwon-do’s industries by supporting the research and development of strategic products by local small and medium enterprises, and also by fostering pioneering enterprises’ growth into brand-name establishments. We will continue to expand the overseas markets for the province’s businesses by strengthening our ties with local distributors in China, Singapore, Vietnam, and elsewhere.”

limbo@yna.co.kr

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Source Text

Source: Yonhap News (Mar. 14, 2018)

** This article was translated from the Korean.