Udumji Farm, an agricultural corporation, announced on the 28th of last month that it had signed a Memorandum of Understanding (MOU) with the government of Borikhamxai Province, Laos, for land use for overseas agricultural development. The agreement primarily secures the right to use 150 hectares (approximately 450,000 pyeong) of land in the province's Pak Ga Ding district. The agreement was achieved through the collaboration of Udumji Farm CEO Kim Ho-yeon and Honorary Ambassador Yoo Hyeon-sook of the Lao government.
Laos is a prominent agricultural country, with over 70% of its population engaged in agriculture. However, productivity remains low due to a lack of technological prowess and inadequate infrastructure. Udumji Farm aims to transform traditional agriculture into a modern, export-oriented one by introducing advanced farming techniques, improving local labor conditions, and mechanized farming. Through these efforts, the company plans to contribute to the development of Laos as a new breadbasket in the ASEAN region.
This project is also linked to South Chungcheong Province's "South Chungcheong Smart Agricultural Technology" initiative. South Chungcheong Province established friendly cooperative relations with Laos in 2022 and signed a Memorandum of Understanding in 2024, promoting the establishment of a joint agricultural development model. A large-scale project to introduce K-Smart Farms to Laos is scheduled for 2025, with Udeumji Farm providing technology transfer and operational experience at the private level.
Beginning with this 150-hectare development, Woodeumji Farm plans to expand its operations to 6,000 hectares (approximately 18 million pyeong), projecting approximately KRW 700 billion in sales. The area will be used to cultivate high-value-added tropical fruits and vegetables, including bananas, apple mangoes, pineapples, and blueberries. Woodeumji Farm aims to increase productivity by adopting climate-adapted cultivation techniques and mechanized farming. Furthermore, by supplying all of its agricultural products domestically, it aims to contribute to strengthening food security.
The project aims to begin construction in the first quarter of next year, with the first harvest expected one year after construction begins. Starting in the second year, production will be expanded by establishing a biannual harvesting system.
A representative of Udumji Farm stated, “This agreement is a turning point for us to leap forward as a global agricultural company,” and added, “Based on the competitiveness of our existing brands, such as Tomango, we will expand our business into European-style vegetable cultivation and overseas resource development.”
- See more related articles
You must be logged in to post a comment.