Hyundai Construction Partners with Korea Rural Community Corporation to Pioneer 'Smart Farm' Overseas Market

[Asia Economy Reporter Kim Hyemin] Hyundai Engineering & Construction is officially launching its overseas market entry for the eco-friendly intelligent farm 'K-Smart Farm'.

On the 20th, Hyundai Engineering & Construction announced that it signed a 'Strategic Memorandum of Understanding (MOU) for the Establishment of Smart Agriculture Infrastructure and Overseas Expansion' with the Korea Rural Community Corporation at its headquarters in Gye-dong, Jongno-gu, Seoul. The signing ceremony was attended by President Yoon Young-jun and Korea Rural Community Corporation President Lee Byung-ho, among others.

Hyundai Engineering & Construction signed a strategic business agreement (MOU) for the establishment of a smart agriculture foundation and overseas expansion with Korea Rural Community Corporation at the Hyundai Engineering & Construction headquarters located in Gye-dong, Jongno-gu, Seoul. From the left in the photo: Yoon Young-jun, President of Hyundai Engineering & Construction, and Lee Byung-ho, President of Korea Rural Community Corporation. (Photo by Hyundai Engineering & Construction)

Accordingly, the two companies plan to cooperate on projects such as establishing overseas agricultural production base infrastructure, advancing Korean-style smart farms overseas linked with smart city projects, and jointly researching eco-friendly smart farms.

The overseas agricultural production base infrastructure project will involve sharing Hyundai Engineering & Construction’s know-how in infrastructure development such as irrigation canals, reservoirs, and seawater desalination, accumulated through projects in the Middle East and Southeast Asia, and cooperating with the Korea Rural Community Corporation’s public-private overseas agricultural investment platform. The Korea Rural Community Corporation’s smart farm technology and network will also be linked to Hyundai Engineering & Construction’s ongoing overseas smart city development projects to explore overseas expansion.

For next-generation smart farm research, they agreed to collaborate on the development and actual commercialization of utilizing electricity, heat, and carbon dioxide from fuel cells in agriculture.

President Yoon Young-jun stated, "Agriculture is a field that our founder, the late Chairman Chung Ju-yung, emphasized as an asset of humanity that must never be neglected despite changes in technology and industry. In the current situation where severe climate crises threaten not only ecosystems but also safe food, we will do our utmost to secure future food sovereignty and agricultural competitiveness through this MOU."

In response, President Lee Byung-ho said, "Through public-private cooperation, we will promote future agricultural and fishery technology exchange and business diversification, and establish an organic cooperation system to expand the overseas advancement of smart agriculture."

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