September 10, 2013

Zhangzidao Group gains approval for sea cucumber breeding in South Korea

 

Dalian Zhangzidao Fishery Group Co., Ltd. (Zhangzidao Group) has obtained the license from South Korea’s government for sea cucumber breeding, taking one step closer to start its aquaculture operation in South Korea.

Zhangzidao Group has invested RMB100 million (US$16.34 million) in a breeding and processing facilities for sea cucumber and abalone in South Korea's Jindo-gun Jeollanam, making it the largest investment by a private Chinese company in South Korea. The license for abalone breeding is still pending.

The facilities will be managed by Zhangzidao Fishery Group Korea Co., Ltd., a subsidiary set up by Zhangzidao Group in 2012. 

Zhangzidao Group, which engages in marine fisheries and seafood processing, is aiming to generate sales revenue of RMB10 billion (US$1.63 billion) by 2015.