Salmon Evolution ASA (“Salmon Evolution” or the “Company”, OSE: SALME) refers to the stock exchange notice dated 31st of March 2021 where the Company announced that it had signed a JV Agreement with Dongwon Industries regarding the establishment of K Smart Farming, a South Korean company established with the purpose to develop, construct, own and operate land-based facilities for salmon farming in South Korea.
After this announcement, the parties have been working to secure data regarding the quality of the planned smolt site in Jeungseon and the grow out location in Yangyang. As these studies have been satisfying, K Smart Farming has now entered into an agreement with the Norwegian company Artec Aqua regarding a feasibility study for the two facilities. The outcome of this study will be the basis for further concept development, detailed engineering as well as application for relevant building permits etc.
The agreement was signed in Seoul, Korea with both the top management of Dongwon, Salmon Evolution and Artec Aqua precent, and shows that the progress for Salmon Evolution’s involvement in South Korea is going according to plan.
Mr Håkon André Berg, CEO of Salmon Evolution says:
“We are very pleased with the progress of our joint venture with Dongwon in South Korea. We are also happy to announce that the partnership between Salmon Evolution and Dongwon continues to develop. This feasibility study is the first of many engineering and construction contracts that K Smart Farming will enter into, and we are excited to continue to work closely with Dongwon in building up K Smart Farming as a substantial land-based salmon farmer in the Korean market over the coming years.”