Udeumji Farm Selected as an Excellent Company in the Sustainable Growth Category of the '2023 Outstanding Venture Companies'

Smart farm company Udeumji Farm announced on the 25th that it was selected as an excellent company in the sustainable growth category in the '2023 Excellent Venture Selection Project' organized by the Korea Venture Business Association.

The Excellent Venture Selection Project aims to discover outstanding unlisted venture companies with technological capabilities and growth potential, share their achievements, and support their growth. This year, 98 companies with outstanding performance and innovation across seven categories were honored.

Udeumji Farm was recognized for its excellent sales growth and selected in the sustainable growth category. It attracted attention for maintaining a net profit of over 3 billion KRW annually for three years from 2020 to 2022, recording an excellent average annual growth rate of 59.3%. In 2022, it achieved sales of 44.9 billion KRW and an operating profit of 3.7 billion KRW.

As a comprehensive smart farm company, Udeumji Farm is leading future agriculture through the establishment of advanced ICT cultivation environments and smart farm total solution consulting. It is gaining attention as an innovative company leading the K-smart farm ecosystem by continuously conducting research and development to improve the taste and nutrition of agricultural products and creating high value-added business areas by combining advanced processing technology with traditional farming methods.

In September this year, it plans to pursue a merger listing through a SPAC extinguishment method with Hana Financial 20th SPAC. The plan is to take a new leap forward based on differentiated capabilities such as design and construction, operation and production, and distribution capabilities. Through the listing, it aims to further advance Korean-style smart farm technology and elevate its corporate value to the next level.

Recently, it has been accelerating global business expansion by closely collaborating with various overseas companies with goals such as securing overseas production bases and launching new products. Recently, it has signed multiple MOUs for smart farm facility construction with companies from the Netherlands, the United Arab Emirates (UAE), Saudi Arabia, and Vietnam.

Kang Seong-min, CEO of Udeumji Farm, said, “This selection as an excellent venture company is the result of laying a solid foundation for growth based on our advanced smart farm technology.” He added, “We will take the lead in researching and developing more innovative smart farm solutions and advanced farming methods with the goal of advancing the domestic smart farm industry.”

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