Hyundai CNF Inc. plans to establish the first Agricultural Products Distribution Center with quarantine facilities in Cambodia
– Signed the MOU with the local partner, Mao Legacy Co., LTD. on exporting
agricultural products such as mangoes to third countries –

Hyundai C & F Inc. owned by Hyundai Corporation Group signed the memorandum of understanding(MOU) with Mao Legacy Co., LTD. in Cambodia on establishing the Cambodian Agricultural Products Distribution Center equipped with quarantine facilities. Mao Kun Pisey, the president of Mao Legacy Co., LTD. (in front of row on the left) and Jang An-Seok, the president of Hyundai CNF Inc.( in front of row on the right) signed the MOU. The ceremony was attended by key actors including Jeong Mong Hyeok, the president of Hyundai Corporation Group(far right of the back row); Kim Won Jin, the Ambassador to Cambodia(the third from the left in the back row).

 

Hyundai CNF Inc. owned by Hyundai Corporation Group plans to establish the first Agricultural Products Distribution Center with quarantine facilities in Cambodia in earnest near Phnom Penh, the capital of Cambodia.

At the Sofitel Hotel in Phnom Penh, Cambodia, at 6:00 pm local time on the 21st, Hyundai CNF Inc. signed the memorandum of MOU with the local partner, Mao Legacy Co., LTD. on establishing the Cambodian Agricultural Products Distribution Center with quarantine facilities. The signing ceremony was attended by key actors including Mao Kun Pisey, the president of Mao Legacy Co., LTD.; Jeong Mong Hyeok, the president of Hyundai Corporation Group; Jang An Seok, the president of Hyundai CNF Inc. and Kim Won Jin, the Ambassador to Cambodia, etc.

Based on the MOU, Hyundai CNF Inc. will gradationally create the Agricultural Products Distribution Center with quarantine facilities for exporting agricultural products such as mangoes, etc. near Phnom Penh, Cambodia from next year. Especially, the quarantine facilities are to be built in Cambodia for the first time, which is so meaningful. The Center will be responsible for the commercialization of Cambodian agricultural products including classification, washing, processing and packaging, etc. and will play a pivotal role in exporting the products to third countries such as Korea, China and the EU, etc. The handling fruits will be expanded from mangos to the Cambodian tropical fruits such as durians, papayas, coconuts, mangosteens, etc. and to processing and distribution of local agricultural products.

The project is regarded as win-win opportunity for both Cambodia and Korea. Cambodia can contribute to a rise in national income and the improvement of living conditions through the export of tropical fruits including mangoes. In addition, it can establish a systematic agricultural distribution infrastructure by acquiring advanced quarantine and distribution technologies and know-how from Korea and can get the opportunity to expand the export market of other Cambodian agricultural products. In Korea, domestic consumers will also be able to buy high quality Cambodian tropical fruits at a reasonable price.

After signing the MOU between Korea’s Animal and Plant Quarantine Agency and Cambodia’s Ministry of Agriculture and Forestry on exporting Cambodian fresh mangos to Korea last December, for promoting the project, Hyundai CNF Inc. has made a lot of efforts to preparatory works including establishment of quarantine facilities, investment of equipment, facility operation plan, etc. in concert with the local partner. Accordingly, it is expected that the MOU will greatly accelerate the process for importing Cambodian mangoes to Korea.

At the signing ceremony of the MOU, Mao Kun Pisey, the president of Mao Legacy Co., LTD. in Cambodia said, “I hope the quarantine facilities and the Agricultural Products Distribution Center project in Cambodia will achieve great success and be a representative example of agricultural cooperation between Korea and Cambodia.” and also asked “much attention and cooperation of the two governments in order to promote the business smoothly.”

Hyundai Corporation Group started to make full-fledged entry from Cambodia and established a local subsidiary in 2015 and operated mango farms. Using Cambodia as its base, Hyundai Corporation Group has steadily pursued the works to create future growth engines for the ASEAN region whose importance is being emphasized since the AEC (Asean Economic Community) was officially launched.

Meanwhile, although Cambodian mangoes with plenty of flesh are larger than those of Thailand and the Philippines, they are known to be unofficially exported to the neighboring countries without receiving the fair price due to the absence of systematic quarantine and distribution systems.