Jeonnam Province, Namdo Jangteo Incorporation Shows 'Positive Signal'

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] A green light has been given for the establishment of the “Namdo Jangteo Foundation,” which will serve as a comprehensive distribution control tower for agricultural specialty products in Jeonnam Province.

Jeonnam Province announced on the 2nd that the Ministry of the Interior and Safety’s Local Investment and Contribution Institution Establishment Review Committee recently recognized the legitimacy of establishing the Namdo Jangteo Foundation and notified them of a conditional approval.

Accordingly, Jeonnam Province plans to disclose the Ministry of the Interior and Safety’s review results to gather public opinion, and proceed smoothly with the foundation establishment procedures such as enacting ordinances and articles of incorporation, appointing executives, and holding general meetings.

Jeonnam Province has been operating the online shopping mall Namdo Jangteo (jnmall.kr) since 2004, and as it has grown rapidly every year, it judged that a dedicated organization for stable and systematic management is necessary, thus promoting the establishment of the Namdo Jangteo Foundation.

Namdo Jangteo is expected to resolve issues such as difficulties in safe and transparent fund execution and management, service instability caused by work gaps due to changes in consignment companies, and risks of personal information exposure, which have been raised while the online mall was operated under a private consignment system.

In particular, with a dedicated organization equipped with expertise systematically managing quality and customers, it is expected to become a public comprehensive distribution platform that realizes the win-win value of producers and consumers.

Additionally, it can provide customized comprehensive support from product planning (product development and branding) reflecting recent consumer trends to promotion, marketing, sales, and delivery, thereby contributing to strengthening the competitiveness of Jeonnam’s agricultural and food industry.

In the future, the scope of Namdo Jangteo’s business will be expanded to include sales of products from small and medium-sized enterprises in the province, overseas shipping, and rural experience tourism products. The plan aims to improve the income of farmers, fishermen, and small business owners as well as revitalize the local economy through stable market channels and distribution innovation for excellent agricultural specialty products of Jeonnam.

Kang Hyoseok, Director of the Agriculture, Livestock and Food Bureau of Jeonnam Province, said, “We will spare no administrative and financial support so that Namdo Jangteo can grow into Korea’s representative public online comprehensive distribution platform.”

As of the end of June, the online shopping mall Namdo Jangteo hosts 1,774 companies and 29,983 products, achieving sales of 27.1 billion KRW this year alone.

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