Goheung-gun Signs Agreement to Enter $5 Million Chinese Franchise Market

Targeting Chinese Food Ingredients and B2B Markets, Aiming to Increase Goheung Yuzu Market Share

[Goheung=Asia Economy Honam Reporting Headquarters Reporter Kim Chunsu] Goheung County signed an agreement last month on the 10th to enter Goheung agricultural and marine specialty products into the large online platform Weidian to increase the market share of Goheung Yuja in China.

On the 10th, Goheung County in Jeollanam-do announced that it signed a business agreement to enter the Chinese food ingredient market with Guangzhou Hanpum Co., Ltd. (CEO Wang Jongim) in Guangzhou, China, at the New Seoul International Hotel.

Guangzhou Hanpum Co., Ltd., located in Guangzhou, China, is a food distribution company that distributes imported agricultural and marine products within China. As of 2019, it imported 4 billion KRW worth of Goheung Yuja tea, accounting for 21% of Goheung Yuja's exports to China, making it a significant company.

To revitalize the declining exports of Yuja to China following the THAAD deployment and COVID-19, the county signed this agreement to enter the food ingredient market with Yuja peel, Yuja seeds, and other Yuja by-products, and to expand the B2B market.

Going forward, Goheung County and Guangzhou Hanpum Co., Ltd. plan to actively cooperate in joint marketing targeting the local Chinese franchise market with the goal of exporting 5 million USD over two years for the marketing project of the Goheung Yuja Convergence Industry Promotion Group.

By continuously signing such agreements, administrative efforts are being concentrated on marketing to target both online and offline markets in China, the largest export country for Goheung Yuja.

County Governor Song Guigeun stated, “While diversifying export routes through new market development is important, solidifying existing markets is also crucial,” adding, “We will use this agreement as a stepping stone to enable Goheung Yuja exports to the Chinese market, which had stalled, to take off again.”

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