[Click eStock] "Nongwoo Bio, Stable Growth as Seed Importance Increases"

[Asia Economy Reporter Hyungsoo Park] Research Alom analyzed on the 5th that Nongwoo Bio is a seed company holding the largest number of plant variety protection rights in Korea and continues stable growth.

Choi Seonghwan, Chief Researcher at Research Alom, explained, "The seed industry is often called the semiconductor of agriculture due to its large market size," adding, "It is an industry directly linked to food security, so its importance is significant."

He continued, "If successful in developing varieties, continuous profit generation is possible, classifying it as a typical high value-added industry," and added, "Although it is an industry with high entry barriers, if development succeeds, it has the characteristic of enjoying monopoly benefits."

According to market research firm Market and Markets, the global seed market size was approximately $55.4 billion (about 68 trillion KRW) last year, growing at an average annual rate of 7.6%. It is expected to reach $86 billion (about 105 trillion KRW) by 2025.

Researcher Choi introduced, "Nongwoo Bio recorded sales of 33.4 billion KRW and operating profit of 5.8 billion KRW in the first quarter of this year," noting, "These figures increased by 14.0% and 68.5%, respectively, compared to the same period last year."

He also predicted, "Direct benefits are expected from food aid to North Korea," and said, "If a food aid project as part of inter-Korean economic cooperation begins, Nonghyup, representing domestic agriculture, will be considered first."

He added, "Nongwoo Bio is an affiliate of Nonghyup and a company specialized in seed development, which is key to food self-sufficiency," analyzing, "With experience in researching and developing seeds in various countries, it can transfer seed technology suitable for North Korea's climate and geography."

This content was produced with the assistance of AI translation services.