Seafood giant Dongwon will invest $168 million into land-based salmon farm in South Korea

Dongwon Industries will invest about KRW 200 billion ($168.5 million/€142.1 million) in 35,000 pyeong (116,000 square meters) of land in Gangwon Province, South Korea, for construction of a land-based salmon farming complex, reports Korea IT Times . South Korean seafood giant injects millions into land-based salmon producer Dongwon, which counts among its global subsidiaries the US tuna brand Starkist, said it anticipates 20,000 metric tons of production from the facility, which it will produce using technology developed by Norwegian land-based salmon farmer Salmon Evolution. Dongwon injected NOK 50 million (€4.7 million/$5.5 million) in July, giving the company a close to 10 percent stake in Salmon Evolution. "During the fierce global food resource war, we have established our own domestic salmon farming complex to secure stable and sustainable fisheries resources," said Dongwon CEO Lee Myung-Woo. "We plan to foster it as Asia’s largest fisheries bio-industrial complex in the future." 20,000 tons of salmon Construction of the land-based salmon farm begins this year, and Dongwon plans for it to be operational next year. Unlike more technical and expensive RAS systems employed by the likes of Atlantic Sapphire, Dongwon will employ the flow-through land-based farming system used by Salmon Evolution. Dongwon aims […]

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