8 Public Institutions Including KAMCO Support Opening of Smart Farms Linked to Korean New Deal

On the 21st, Korea Asset Management Corporation (KAMCO, President Moon Sung-yu) and eight other public institutions in the Busan area announced that they supported the opening of a smart farm inside the Geoje Sunrise Station on the Donghae Line in Busan through the Busan Social Economy Support Fund (BEF).

[Asia Economy Reporter Song Seung-seop] Korea Asset Management Corporation (KAMCO) and eight public institutions in the Busan area announced on the 21st that they have opened a smart farm inside the Busan Metro station through the Busan Social Economy Support Fund (BEF).

A smart farm refers to an agricultural system that automatically controls the optimal growth environment by utilizing information and communication technology (ICT) in the production, processing, and distribution stages of agricultural, forestry, livestock, and fishery products. According to KAMCO, this smart farm was established at Geojehaemaji Station on the Donghae Line in Busan. The smart farm here cultivates Songyuk oyster mushrooms, butterhead lettuce, romaine lettuce, and more.

BEF is a fund created by KAMCO and eight public institutions in the Busan area to support the sustainable growth of social economy enterprises. Since November last year, it has been soliciting companies in the Busan area to participate in a vertical smart farm complex model construction project.

The cooperative 'Maeil Maeil Jeulgeowo,' selected as the project recipient, will use the support funds to equip smart farm facilities and operate exhibition, sales, and experiential education learning centers. Hwang Tae-yeon, director of Maeil Maeil Jeulgeowo, stated, "We will challenge the monetization of the social economy through the smart farm opened with BEF's support," adding, "We will create jobs for socially vulnerable groups and share them."

This project began as part of the Korean New Deal, with BEF selecting it as a linked support target. Moon Sung-yoo, president of KAMCO, said, "I hope this Korean New Deal linked project will serve as an opportunity for the smart farm social economy ecosystem using AI and other technologies to take root in the city," and added, "KAMCO will continue to unite efforts as the secretariat of BEF to create innovative outcomes such as revitalizing the social economy and creating jobs."

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