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Global Growth - Aquatech South Korea

Innsiden av oppdrettsanlegget til Hofseth Aqua ved Storfjorden på Vestlandet.© Einar Aslaksen / Pudder agency
Inside of Hofseth Aqua's fish farm facility at Storfjorden in Western Norway.
South Korea is looking for the latest aquaculture technology in order to upgrade fish farming industry to a larger and more sustainable scale.

Norwegian version: Global Growth: Akvakultur-teknologi Sør-Korea

For the past five years, Northeast Asia’s (NEA) Atlantic salmon import volume has doubled, while South Korea’s import volume has more than tripled the last decade. Besides, South Korea’s seafood consumption per capita is the global number one.

The South Korean government has decided to industrialize the fish farming business to take advantage of the growing salmon market opportunities in the Northeast Asia. They want the fish farming industry to develop in a larger and more sustainable scale with more profitable species through strong government support.

The government wants large companies/capital to start their aquaculture operations and encourage foreign investors to cooperate with their local partners. The export program "Global Growth - Aquatech South Korea" shall focus on building long-term relations and partnerships with key players of the South Korean fish farming industry, opinion leaders, fish farmers, solution providers and local governments.

Who should join?

In cooperation with NCE Aquatech Cluster, we invite a group of ambitious companies willing to expand into the markets of Northeast Asia to participate in this program.

Both companies that are new to South Korea, but also those that have already been in contact with the market and are interested in building a local network, showing their product/service in various industrial arenas, building a presence, being remembered when the technology is needed.

South Korea is looking for the latest aquaculture technology within turnkey suppliers, design, education, (heat)pump, ozone/rezone disinfection purifier, filtration, control SW, feeds, sludge dryer/waste water treatment, fish tank, raceway design & hardware and sorting.

What will you benefit from?

Participating companies will gather input and market insights to ultimately understand, evaluate and develop a new or better export strategy to South Korea. Your company will get to explore market opportunities, build business networks and meet opinion leaders, important industry players, target customers and relevant potential partners.

The participating companies will have the opportunity to present their technology directly to the Korean market and participate in interesting and relevant discussions. The direct feedback from being in the market and from strategic discussions with our advisors will allow you to map the most important factors for success in the South Korean market and plan ahead. Korean business culture will also be an important theme during the program.

Planned timeline

  • May/June: Orientation webinar - program overview and Q&A
  • May/June: Introductory meetings with participating companies (half hour meetings with companies to confirm participation)
  • June: Preparation of a program for South Korean delegates to AquaNor with special participation of Global Growth companies
  • August: South Korean delegation visit to AquaNor
  • August during AquaNor: Project kickoff-meeting in Trondheim (physical gathering of participants)
  • August: South Korean delegation visit to Norway

Market visits and webinars

  • Webinar 1: Strategic Positioning
  • Webinar 2: Go-to-Market Strategies
  • Webinar 3: Market Visit Preparation
  • Individual meetings with each company and program advisors
  • First market visit to South Korea
  • Additional webinars to be developed based on the feedback from the visit
  • Second market visit to South Korea

During the webinars (and seminars during the market visits) relevant topics will be taken care of based on the participants’ interest, such as: IPR, regulated certification for equipment export, local culture etc.

Project summary meeting (physical meeting in Oslo. TBC depending on where participants are from).

Participation Fee

25 000 NOK per company (SMB)*

50 000 NOK per company (large enterprise)

*Innovation Norway defines an SME as a company with fewer than 250 employees, and an annual turnover that does not exceed EUR 50 million or a balance sheet that does not exceed EUR 43 million. If the company does not meet both of these criteria, it is considered a large enterprise. Also, if a company is owned more than 25 percent by a large enterprise, it is not considered an SME.

Questions? Please contact:

Changan Choi
Innovation Norway South Korea
+82 10 4847 0237

Renata Prado
Innovation Norway Trondheim
+47 918 31 086

Kari Thyholt
NCE Aquatech Cluster
+47 916 24 120

Morten Andersen
+47 477 16 235

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