Woori Technology Signs Lease Agreement for Yeoncheon BIX... Establishing Smart Farm Facility

[Asia Economy Reporter Hyungsoo Park] Woori Technology is newly entering the smart farm business based on its specialized control and instrumentation technology accumulated in nuclear power plants and wind power generation.

On the 25th, Woori Technology announced that it signed an investment agreement with Yeoncheon County Office for the relocation to 'Yeoncheon BIX' to build an advanced base for the smart farm business. Woori Technology will establish an eco-friendly smart farm and bio-material platform covering 13,294 pyeong (43,947㎡) within Yeoncheon BIX. The investment amount is approximately 70 billion KRW.

Through the agreement, Woori Technology will build facilities for extraction, refinement, and analysis of natural products (agricultural products), including eco-friendly smart farms, while Yeoncheon County will secure business sites and infrastructure to support smooth business operations.

Woori Technology has operated a plant factory demonstration center for several years aiming to develop natural pharmaceutical materials and drugs based on smart farms. It has also participated in government projects on smart farm systems with leading domestic research institutions, continuously investing in research and development.

A Woori Technology official explained, "The agreement was made based on mutual understanding of the bio business and Yeoncheon County's green bio-industry promotion policy." He added, "Through this agreement, we will strive to make the natural pharmaceutical material development business based on smart farms a core growth engine alongside existing businesses such as nuclear power and offshore wind power."

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