HiteJinro to Foster Startups in Agriculture and Fisheries Sectors with Public Institutions

Agricultural Promotion Agency and Marine Fisheries Promotion Agency Sign MOU to Support Startups

(From left) Oh Woon-yeol, President of the Korea Institute of Marine Science and Technology Promotion, Kim In-gyu, CEO of HiteJinro, and Ahn Ho-geun, President of the Korea Agricultural Technology Promotion Agency, are posing for a commemorative photo after signing an MOU to support startups at the HiteJinro Seocho-dong headquarters on the 5th.

[Asia Economy Reporter Eunmo Koo] HiteJinro announced on the 5th that it plans to collaborate with the Korea Agricultural Technology Promotion Agency and the Marine and Fisheries Science and Technology Promotion Agency to discover and nurture startups with innovative ideas and technologies capable of stably supplying agricultural, livestock, and marine products.

On the morning of the same day, HiteJinro signed a memorandum of understanding (MOU) to systematically support startups in the agriculture and fisheries sectors at its Seocho-dong headquarters, attended by Kim In-gyu, CEO of HiteJinro, Ahn Ho-geun, President of the Korea Agricultural Technology Promotion Agency, and Oh Woon-yeol, President of the Marine and Fisheries Science and Technology Promotion Agency.

HiteJinro plans to actively cooperate for the growth of startups in the agriculture and fisheries sectors by utilizing the capabilities held mutually with public institutions that possess infrastructure in these fields. Furthermore, it aims to create synergy through close networking among general companies, public institutions, and startups, and to proactively seek collaborative development (C&D).

Starting with this MOU, HiteJinro will operate an investment-linked open innovation program to support the growth of startups with excellent technology and business models. The program will focus on ▲innovation in technologies for harvesting, production, storage, and processing of agricultural and marine raw materials ▲efficient recycling of agricultural food and marine by-products ▲advancement of smart agriculture ▲advancement of smart aquaculture.

A HiteJinro official stated, "We expect this to become a successful model that creates synergy through public-private collaboration and promotes the growth of promising startups."

Meanwhile, as a strategy to secure new growth engines, HiteJinro continues to actively invest in startups from different industries. In particular, with expertise and a strong investment commitment in the agriculture and fisheries sectors, about 35% of the total investment amount is allocated to these fields.

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