HiteJinro Invests in Smart Farm Startup 'Green' for Special Crop Cultivation and Distribution

[Asia Economy Reporter Lim Hye-sun] HiteJinro announced on the 16th that it has signed an equity investment agreement with the startup "Green," which cultivates and distributes high value-added agricultural products and sells facilities through smart farms. HiteJinro stated that it decided to invest because it highly values the smart farm market as a business that can continue to grow steadily in the future.

The characteristic of the smart farms operated by Green is that they can be installed even in urban areas. Currently, urban farms are being operated in Magok and Gimpo, cultivating 13 types of high value-added specialty crops such as herbs, stevia, wasabi, mini cabbage, and apple watermelon. The cultivated specialty crops are distributed through regular delivery services of food ingredients under fixed supply contracts with food service companies. Due to the nature of smart farms, which are not affected by external environments, a major advantage is the ability to supply agricultural products stably at low prices.

Green is also seeking overseas expansion with its unique smart farm technology and facilities. It plans to operate an urban farm corporation in Dubai in the future and is negotiating facility exports to Colombia.

Currently, HiteJinro is investing in startups in various fields, focusing on food and lifestyle sectors.

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